In the insurance markets, the buyers are individuals and businesses who may buy insurance products to protect themselves or their business operations. 

The buyers of insurance policies can be grouped into three main groups: Business buyers, household buyers, and government buyers.

Household buyers 

These include individuals, families, and other non-business organization who buys insurance coverage for their home and personal belongings.

In other words, household buyers of insurance products are individuals and families that buy insurance products for their personal use.

This group of buyers usually buys insurance products for protection against risks including damage to personal property, personal injury, damage to a motor vehicle, and personal injury.

The insurance products usually bought by household buyers are private car insurance, household insurance, and life assurance.

Business buyers 

These include businesses that buy insurance products to protect their business operations.

Business buyers of insurance products are sometimes referred to as commercial and industrial buyers because they usually buy insurance coverage for commercial and industrial purposes.

This particular group of insurance buyers usually buys insurance coverage to protect themselves from risks associated with running a business such as property damage risk, business interruption risk, protection against employee dishonesty or fraud, product liability resulting from business operation, and third-party liability resulting from employees' activities and business operation.

Government buyers 

These are government agencies that may purchase insurance coverage to protect against certain risks.

Government usually buys health insurance for their employees to protect them as they carry out governmental activities for the state.


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