Question

What is the insurance and socio_economic development?

Answer 1

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Economic development carries risk. When business owners decide whether to add a new storefront in a gentrifying area of town or serve a niche audience that hasn’t yet been targeted by their products, they weigh the potential profits against the risk of failure. The availability of insurance helps development primarily by allowing businesses to mitigate that danger, providing encouragement for them to expand their operations.

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