The insurance-reinsurance industry is a global industry that provides risk management services to individuals, businesses, and governments. Insurance companies provide coverage for a variety of risks, including property damage, liability, and health care costs. Reinsurance companies provide additional coverage for large risks that insurance companies may not be able to cover on their own. Reinsurance companies also provide risk management services, such as risk assessment and risk management advice. The industry is highly regulated, with governments setting minimum standards for insurance and reinsurance companies. The industry is also highly competitive, with companies competing for customers and offering different levels of coverage and services.