Research appropriate insurance plansResearch, identify, and describe appropriate insurance plans for asmall business. This involves interviewing an insurance broker and/or searchingthe library/Internet for information. Complete your response by taking intoaccount of the following:1. Describe the types of policies and coverage needed for atypical small business.2. List the appropriate limits, deductibles,exclusions, and premiums, for the coverage identified in Q1.3. Explain how insurance can mitigate the risks a smallcompany faces, and discuss its limitations.4. Describe the various risks a small company needs tomitigate.5. Explain how much the various policies cost on anannual basis. (Use any relevant online or professional quotes to get a feelabout the cost level)6. Describe the various sources of these policies, anddiscuss how the policies can be obtained.7. Present an insurance coverage plan for a businessyou would like to start or work for. What coverage is needed, and how much willthe plan cost?

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