Insurance is considered one of the most successful policies used to protect property and individuals. It has a close relationship with the economy by focusing on safeguarding the wealth of individuals and communities. This is achieved by working to reduce the potential financial losses resulting from the risks they face in their daily activities, whether personal, commercial, or industrial. Insurance is known as the best way to compensate for financial losses incurred by individuals or groups due to various risks. There are many types of risks, and insurance provides protection against these risks that may occur.