Do Insurance Companies Need Business Insurance?

Tuesday, December 10, 2019

Do Insurance Companies Need Business Insurance?

Here’s a question worth considering: Who insures your insurer? Insurance companies will typically carry business insurance on two fronts:

Reinsurance helps to cover your insurer, but it also helps to cover you. If your insurance company simply does not have the funds to cover every single claim after a fire tears through a neighborhood, for instance, then you’re not going to get your claim paid, unless your insurer has a reinsurance policy with another company. Reinsurance can be a life-saver for small and medium-sized insurance companies and their customers.

It can generally be assumed that everything is insurable, including insurance. So long as it’s legal, and solong as it is something that you can document, you can probably take out an insurance policy on it.