It would be nearly impossible to start out a business
Just like a home mortgage lender, a business lender wants to understand they’ll receive quick reimbursement if a building or a key piece of kit was destroyed, damaged, or stolen. In a world without insurance, aspiring business owners would have a tough time qualifying for a needed loan.
“Without insurance, people and businesses would be unwilling to require risks, so there would be less invention and fewer investment in money- and life-saving innovations,” says Barry.
