You're walking down the aisles of your favorite discount store. You stop in the auto department to pick up a few bottles of 10W-40 oil. You go over to housewares, because your wife wants you to get some of those plastic containers—you know, the kind that look like Tupperware but are a lot cheaper. You see that jars of mixed nuts are on sale, so you throw one in the cart.
Then you pass by this shelf next to the DVDs that says “Insurance.” You think to yourself, “I need coverage for my business,” so you take a box marked “BOP” and throw is in your cart next to the mixed nuts. You're about to leave, but then you think, “Maybe I need some cyber liability, too.” You toss another box in the cart. It lands on the oil.
What's wrong with this picture? Everything, because contrary to the claims of those who try to market insurance as a commodity, consumers don't see it that way. They know that insurance is a contract to protect people and their property, and a promise to be made whole in the event of a loss. It's not something that can be found in a box next to the canned tomatoes.
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