Aids to trade provided by service industries enables traders to carry out their business operations more effectively and efficiently. In light of the above statement,discuss the importance of the insurance industry to traders.

(a) Define the following terms:

(i) Fidelity insurance.(2 marks)

(ii) Life assurance.(2 marks)

(iii) Workmen’s compensation insurance.(2 marks)

Aids to trade provided by service industries enables traders to carry out their business operations more effectively and efficiently.

In light of the above statement,discuss the importance of the insurance industry to traders.

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Aids to trade provided by service industries enables traders to carry out their business operations more effectively and efficiently. In light of the above statement,discuss the importance of the insurance industry to traders.

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