Insurance plays a crucial role in protecting individuals, businesses, and society from unexpected financial losses. By transferring risk from the insured to the insurer, insurance provides a sense of security and stability in situations such as accidents, illness, property damage, or business interruption. Instead of bearing the full financial burden alone, policyholders pay a relatively small, predictable premium in exchange for coverage against potentially significant losses. This mechanism allows people and organizations to plan for the future with greater confidence, knowing that unforeseen events will not completely disrupt their financial well-being. Beyond individual protection, insurance also supports economic growth by enabling investment, encouraging entrepreneurship, and promoting responsible risk management. In many industries, insurance is not just a safety net but a fundamental requirement for sustainable operations and long-term resilience.