Do all businesses need to be insured?

Answer: no

Answer: All business cannot be insured, some business that involved gambling, speculation loss of profit through competition and through fall in demand cannot be insured

Explanation:

Insurance is a pool of risk, it is a wise choice made by a business organizations against unforeseen circumstances. The business is said to be full of risk, having said that not all the risk of business can be insured. The following risk cannot be insured

Gambling : This is a game of chance in which the winner takes all, based on these it is difficult for insurance company to properly calculate the premium in which losses incurred on gambling business can be based.

Speculation : This is the business which involved buying and selling of shares with the hope of making huge profit when the price is higher. Such a business has a high chance of risk which cannot be correctly calculated which made such business difficult to insure.

Loss of profit through competition : Competition in business is inevitable but insurance company cannot insure loss of profit through competition because business can rely on this to involved in careless competition in a bid to make profit.

Loss of profit through fall in demand : The demand in the goods and services produced by a business may fall due to certain factors. Insurance do not insure loss of profit through fall in demand due to the fact that it is difficult to calculate the premium that the business will pay to the insurance company to insure such loss of profit through fall in demand.