Insurance marketing practices of property and liability companies: a comparative study

The student of business in the modern free world soon discovers that an extremely important function in the economy of free-enterprise is that of risk bearing. Free-enterprise, particularly as exercised in the United States of America, makes implicit the chance of gain or loss in any privately owned business enterprise. Some of the particular risks to which the entrepreneur may be exposed are frequently transferred to another risk bearer under a system of insurance. Since it is generally impractical to attempt to transact business on even a small scale in the modern American society without the security of various forms of insurance, there has developed a very large industry to serve this function. As in any field where business size becomes great, each and every facet of the operations of insurance firms must be open to the public gaze. A treatment public interest in the operation of this type of firm has arisen. The customers wish to see they are getting full value for the premium that they pay.