Commercial insurance works through a contract where a business pays regular premium amounts to an insurance carrier in exchange for financial protection against specific operational risks. If an insured business event occurs—such as a customer slipping on wet premises, a fire destroying inventory, or an employee filing a workplace injury claim—the business files a formal claim. The insurer investigates the loss and, subject to policy deductibles and maximum coverage limits, pays out funds to cover liabilities or damages.
1 votes
Marked as accepted