Answered: Name thee organizations whose…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Name thee organizations whose performance affects or is impacted by the performance of Cigna insurance.

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Step 1

Insurance:-

The majority of individuals have insurance of some form, whether it is for their home, car, or life. But the majority of us seldom pause to consider what insurance is or how it functions.

Simply explained, insurance is a contract that is represented by a policy and offers financial protection or compensation from an insurance provider against losses to the policyholder. To make payments to the insured more tolerable, the corporation splits the risks of its customers.

Plans for insurance are made to protect against potential financial losses, large and small, that may result from harm to the insured or their property or from liability for harm or injury to a third party.

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