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Why do firms buy hazard insurance?

Why do firms buy hazard insurance? Specifically, what does this do for their business? Is it a good "investment?" Please use examples.

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Hazard insurance protects the property of the business owners against damage caused by fires, severe storms, earthquakes or other natural events. As long as the specific event is covered within the policy, the property owner will ...

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Why do firms buy hazard insurance? Specifically, what does this do for their business? Is it a good "investment?" Please use examples.

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