I realized that most people do not appreciate the importance of Insurance and the insurer in commercial markets. Insurance is simply a social scheme set up to compensate an individual for any financial loss that may occur as a result of misfortune. Every individual is exposed to a certain degree of risk, but some are exposed to a higher degree of risk as a result of their occupation, location, recreational activity and physical fitness. Risks are inseparable from life, so, Insurance is an investment one can fall back on when a misfortune occurs. Insurance companies offer several services such as savings, investment, risk prevention, risk control, research and liaison services, stimulus to businesses e.t.c. Insurance reduces stress and anxiety especially in old age. Therefore, I would say that everyone, be it a cooperate organization or an individual, needs an Insurance policy at every stage in life. With the policy in place, you can confidently plan ahead, knowing that your investments are well-secured. Furthermore, there are various types of Insurance policies. These include life Insurance, marine Insurance, property Insurance , motor Insurance and burglary Insurance. For example, you can insure your car against fire and theft. Based on the foregoing, I’ll advise that  Insurance as a course of study should not  be underestimated, but; be given a serious thought because it enables one to know the fundamental principles behind the practice of Insurance.

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