Why Are Insurances Good?

First, we need insurances because, unlike we thought, we have never succeeded to tame nature, but quite the contrary; given that civilization arose from our fighting against nature, it has developed in this adverse manner until - with the climate change or what not, supposedly provoked by humans - it affected nature to such an extent as to turn it against us, in the form of unexpected floods in unexpected places, volcano eruptions, hurricanes, tornadoes, in other words, all the natural calamities that can destroy our lives and our businesses in a matter of seconds.

Secondly, we need insurances because, as Voltaire with his critical spirit mocked Leibniz's philosophy, according to which we live in the best of all possible worlds, showing that neither our world is perfect, nor are we, man is full of foibles, among which the temptation to steal. As Plato asserted, by means of the legend of the shepherd Gyges, if not seen or known, therefore having to risk, as if under a cloak making us invisible, we would be only too willing to steal or even kill to get what we want.

As such, insurances can protect our property and goods against theft, burglary or armed robbery. From stealing money from a restaurant or shop till to breaking in an IT company and leaving with the hard disks, or stealing in grand style large amounts of money from a bank, any event of this kind may affect our activity or put an end to it altogether.

Thirdly, we need insurances because our reason is not a perfect machine running smoothly and equally well at all times, and neither are so our bodily parts, such as our hands, for instance. What would become of a business without professional indemnity insurance, if, due to the misjudgment of one of the employees, some third party - the client - was seriously harmed financially? Or if, due to a shaking hand out of exhaustion or lack of professionalism, a surgeon or dentist would injure the patient - the client? Both compensations and legal expenses can be sky-high, especially if the culprit is proven guilty in a court of law.

But with indemnity insurance, all these financial worries would have no grounds because the insurance company would cope with the matter, whether the business owners or their employees were at fault or not. In such a way, you wouldn't risk to go bankrupt, compromise your reputation or lose your clients, in short, utterly fail.