Discuss five ways in which the insurance industry enhances the growth of business enterprises in the country.

Answer:

-It mobilises saving which the business community borrows for the purpose of business
-The life assurance can be used as security or collateral to get loans from insurance company
-Insurance company invests in buildings, shares or other securities which are used by the business community
-The industry creates confidence among the business community enabling them to venture into profitable busineses even if they are risky
-The insurance company provides compensation to the business community
thus enabling continuity of business operations
-Provide loans for business operations.

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