The development of packaged policies was primarily aimed at meeting the needs of which group?

The primary aim of developing packaged policies was to address the specific needs of small and medium-sized businesses. These businesses often require comprehensive insurance coverage but may not have the resources or expertise to navigate complex insurance options. Packaged policies streamline the process by bundling essential coverages—such as property, liability, and business interruption insurance—into a single policy. This approach not only simplifies purchasing decisions but also tends to be more cost-effective, making it an attractive option for smaller enterprises that need straightforward, reliable protection against various risks they face in their operations.

While other groups, like charities, large corporations, and public bodies, have their own specific insurance needs, they generally do not have the same requirements for simplicity and affordability that small and medium-sized businesses do. Corporations may need more customized and extensive coverage due to their exposure and operational complexity, while charities and public entities operate under different risk frameworks and funding mechanisms. Packaged policies effectively fill a critical gap for small and medium-sized businesses, making comprehensive insurance accessible and manageable for them.