HISTORY OF INSURANCE

The risk protection has been a primary goal of human beings and institutions throughout history. The risk protection insurance is concerned.More than 5000 years ago in China, insurance was seen as a preventive measure against piracy at sea. Piracy, in fact, was so common that as a way of spreading risks, a number of ships that are part of the cargo to another ship, so that if a ship was captured, the entire shipment is lost.Elsewhere in the world, about 4,600 years ago in the anciental and traders used to bear the risk of caravan trade, giving loans that had to be repaid with interest later when the goods arrived safely. By 2100 BC, the Code of Hammurabi granted legal status to practice. Formalized thick concept refers to the bottoms of the vessels and RESPONDENTIA referring to the load. These provide the basis for contracts of marine insurance. These contracts contained three elements: a loan on the vessel, cargo or freight, interest rate and a surcharge to cover the possibility of loss. In effect, ship owners were insured and lenders are underwritersRisk protection has been a primary goal of human beings and institutions throughout history. The risk protection insurance is concerned.More than 5000 years ago in China, insurance was seen as a preventive measure against piracy at sea. Piracy, in fact, was so common that as a way of spreading risks, a number of ships that are part of the cargo to another ship, so that if a ship was captured, the entire shipment is lost.Elsewhere in the world, about 4,600 years ago in the anciental and traders used to bear the risk of caravan trade, giving loans that had to be repaid with interest later when the goods arrived safely. By 2100 BC, the Code of Hammurabi granted legal status to practice. Formalized thick concept refers to the bottoms of the vessels and RESPONDENTIA referring to the load. These provide the basis for contracts of marine insurance. These contracts contained three elements: a loan on the vessel, cargo or freight, interest rate and a surcharge to cover the possibility of loss. In effect, ship owners were insured and lenders are underwritersRisk protection has been a primary goal of human beings and institutions throughout history. The risk protection insurance is concerned.
More than 5000 years ago in China, insurance was seen as a preventive measure against piracy at sea. Piracy, in fact, was so common that as a way of spreading risks, a number of ships that are part of the cargo to another ship, so that if a ship was captured, the entire shipment is lost.Elsewhere in the world, about 4,600 years ago in the anciental and traders used to bear the risk of caravan trade, giving loans that had to be repaid with interest later when the goods arrived safely. By 2100 BC, the Code of Hammurabi granted legal status to practice. Formalized thick concept refers to the bottoms of the vessels and RESPONDENTIA referring to the load. These provide the basis for contracts of marine insurance. These contracts contained three elements: a loan on the vessel, cargo or freight, interest rate and a surcharge to cover the possibility of loss. In effect, ship owners were insured and lenders were subscribers