Operating a business without insurance is not universally illegal for every single commercial activity, but certain types of coverage are strictly mandated by federal, state, or territorial law. For instance, if you hire even a single employee, maintaining workers' compensation insurance is legally compulsory across almost all jurisdictions, including Australian states and US provinces, with severe financial penalties for non-compliance. Additionally, specific regulated industries require mandatory professional indemnity or commercial auto insurance before granting operating licenses.
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