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As
economies have grown and developed, and with them people, so too has this
class of business. Many governments, particularly in Europe are now attempting
to relieve the state of welfare burdens that can be carried by the individual
and private sector. One can no longer rely on the state to provide anything
more than adequate care in the case of hospitalization, or mandatory minimum
amounts in respect of work related injury. More and more companies not to
mind individuals are turning to the insurance industry to provide financial
protection in the event of an accident and to top up, in effect, state financed
insurances. |
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