Testimonials

Why you need insurance

The society would hardly function without insurance. There would be much uncertainty and much exposure to sudden, unexpected, possibly catastrophic, losses and it would be difficult for anyone to plan with confidence for the future. Most importantly, it would be hard to obtain credit or financing since few lenders or investors would be willing to risk funds without a guarantee of safety for their investments.

Basic function of property/casualty insurance is the transfer of risk. Its aim is to reduce financial uncertainty and make accidental loss manageable. It does this by substituting payment of a small, known fee (an insurance premium) to a professional insurer in exchange for the assumption of a large loss risk and a promise to pay in the event of such a loss