What is one of the main reasons for having insurance in business?

Having insurance in business plays a critical role in ensuring business survival, which is why this answer is the most appropriate. Insurance acts as a safety net that protects a business from unforeseen events such as natural disasters, accidents, or other liabilities that could cause significant financial loss. By having insurance coverage, a business can mitigate the risks associated with its operations and safeguard its assets, ensuring that it can continue to operate even when faced with unexpected challenges.

The financial security provided by insurance allows businesses to recover from losses and maintain stability, which is essential for long-term success. It can also enhance a business's credibility with customers, suppliers, and partners, demonstrating that the business is prepared for potential risks and committed to responsible practices. Overall, the protection afforded by insurance is integral to the resilience and sustainability of a business in a competitive market.