What is so often lost in the criticism of the property-casualty industry is an obvious but too frequently forgotten reality--namely, the value of insurance.
At its core, insurance is the promise of financial protection when there is an unexpected event--whether a major natural disaster or more localized storm, a class-action lawsuit or individual auto claim.
With insurance, individuals and businesses can assume the risks that are inherent in life and business with the security of a strong financial safety net in the event of a loss.
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