Explain the key issues in managing insurance for a small business.

Learning Objectives:Identify the important issues in managing a firm’s cash flows.Explain the key issues in managing insurance for a small business.Prompt:Review Lesson 7 and the resources at the end of the lesson related to risk management and insurance, including:Small Business Administration. “Risk Management for a Small Business.” Participant Guide, Money Smart for a Small Business Curriculum. https://www.sba.gov/sites/default/files/files/PARTICIPANT_GUIDE_RISK_MANAGEMENT.pdf, accessed 6/1/2017.Small Business Administration. “Buying Insurance.” https://www.sba.gov/managing-business/running-business/insurance/buying-insurance, accessed 6/2/2017.Small Business Administration. “Types of Business Insurance.” https://www.sba.gov/managing-business/running-business/insurance/types-business-insurance, accessed 6/2/2017.Instructions:In a well written essay, discuss four types of business insurance and why they are important. Which type(s) would you find most necessary for a business you might want to own someday?