What it is: Insurance products for individuals and households, including home, auto, and personal liability.
Why it’s needed: Protects personal assets and meets legal or lender requirements.
Typical premium range: Varies by property value, vehicle, and coverage limits.
Example: Homeowners + auto bundle → ~$1,800–$2,500/year.

What it is: Insurance for businesses, including property, liability, auto, and specialty coverages.
Why it’s needed: Protects business assets, operations, and employees from risks and legal claims.
Typical premium range: $500–$50,000/year depending on size, revenue, and risk.
Example: Small retail business → ~$2,000/year; mid-size commercial property → ~$10,000/year.

What it is: Non-standard coverage for high-risk or unique exposures not covered by standard insurers.
Why it’s needed: Provides flexibility for unusual, complex, or high-risk businesses.
Typical premium: Varies widely, often 2%–5% of insured value.
Example: Specialized manufacturing facility → ~$15,000/year.

What it is: A self-insurance company created and owned by a business to insure its own risks.
Why it’s needed: Offers control over coverage, claims, and costs; can provide tax advantages.
Typical premium: Depends on risk exposure and regulatory requirements.
Example: Corporate captive covering multiple locations → ~$50,000–$200,000/year.

What it is: Group-owned insurers formed to provide liability coverage to its members.
Why it’s needed: Addresses gaps in liability markets for specific industries.
Typical premium: Industry- and exposure-specific; often lower than commercial market rates.
Example: Professional association RRG → ~$5,000–$25,000/year per member.

Mutual Carrier: Owned by policyholders; profits returned as dividends or reduced premiums.
Stock Carrier: Owned by shareholders; profits distributed to shareholders.
Why it’s needed: Affects corporate structure, governance, and risk strategy.
Typical premium: Similar coverage; structure affects dividend/returns, not policy rates.

What it is: Specialized global insurance and reinsurance market using syndicates to underwrite unique risks.
Why it’s needed: Provides access to international and high-risk coverage not available in standard markets.
Typical premium: Highly variable; risk-dependent.
Example: Marine cargo insurance → ~$10,000–$100,000/year for high-value shipments.