Every company will require some insurance, unless it takes the hazardous approach of self-insuring virtually every risk.  Some well-managed companies have fallen because they did not pay attention to risk. For example, it is difficult to recover from... 

Insurance protection minimizes risk of loss. Casualty insurance covers such items as fire loss and water damage. The premiums are typically paid in advance and debited to Prepaid Insurance, which is then amortized over the policy period. Casualty insurance...