An insurance policy allows for less risks for the business and shifts them to the insurance company. An insurance policy allows for less risks for the business and shifts them to the insurance company. There is no alternative to buying insurance to protect inventory and building against various possible losses such as fire, theft, floods, or typhoons. Business owners are required by law to carry workers' compensation insurance is covered by Republic Act 42119 which is an act to further amends certain sessions of Act # 3428 otherwise known as Workmen’s Compensation Act has amended.
