Insurance History

Insurance bud
Around 2500 years BC, the ancient Babylonian king ordered the monks, judges, mayor, etc., revenue collection, as the fire relief funds. Ancient Egyptian burial stonemason formed mutual aid organizations, with the delivery of contributions to resolve Shoulian burial funds. The Roman Empire soldiers organizations to raise funds in the form of a Memorial to the bereaved family to provide maintenance, gradually formed insurance system. With the development of trade, about 1792 BC, it was the sixth generation of the ancient Babylonian King Hammurabi era of commercial prosperity, in order to aid business and the protection of the mule caravan and cargo loss compensation, in the Hammurabi Code, provides for compensation for loss of common terms apportioned.
BC 916 years, Rhode Island in the Mediterranean, the king in order to ensure the normal conduct of maritime trade developed a roti, Maritime Security, the provisions of a certain shippers suffered losses caused by, including the owner, all of the ship, including the owner of the goods to benefit were shared, which is marked the beginning of marine insurance.
In the 260 years BC - 146 BC, the Punic War, the ancient Roman military transport in order to solve the problem, collect 24-36% of the cost of business as a reserve fund, to compensate for loss of cargo, which is the origin of marine insurance.
BC 133 years, set up by the Roman Recchia (Masonic organizations), to join the organization who receive 100 Chak Division, and a bottle of respect people's sake. Another 5 per month charge Ze Division accumulated a fund for the funeral of the subsidies, it is the seeds of life insurance.
Insurance, mutual assistance in the form from the embryonic period of the progressive development of a risk loans, the development of the marine insurance contract, developed to marine insurance, fire insurance, life insurance and other insurance, and gradually developed into a modern insurance.
[Edit] Marine Insurance
The 17th century, the European Renaissance, the British have a greater development of capitalism, after a large-scale colonial plunder, the British increasingly develop into a share of world trade and shipping industry dominance of the British Empire, for British businessmen to launch a worldwide marine insurance provided the conditions. Insurance broker system also arose. Mid-seventeenth century, the old Ed Edwards opened the Thames River, "Lloyd's Coffee House", become the exchange shipping information, purchase insurance and a place to talk business news. Followed by coffee shop start-up insurance. Lloyd's coffee shop in 1969 moved to London's financial center, as the present Lloyd's predecessor.
[Edit] Fire Insurance
The existing fire insurance system originated in the United Kingdom. September 2, 1666, a huge fire in London (see Great Fire of London), more than half of the city was burned, a loss of about 12 million pounds, 20 million people homeless. As the lessons of the fire, the insurance idea gradually been taking root. 1677, dentist Nicholas Barbon opened in London in personal insurance, business insurance, fire houses, there has been the first fire insurance firms exclusive housing, fire insurance companies gradually increased, the years 1861 -1911, the United Kingdom registered Fire insurance companies to reach 567. In 1909, the British Government in the form of fire insurance law to constrain and supervise and promote the normal development of the fire insurance business.
[Edit] Life
In the Middle Ages, various lines will prevail in Germany "support treasury," America's "friendship society", the Netherlands and France's "pension system" and so on in order to raise capital in the form of the life insurance industry began.
The United Kingdom in 1688 for establishing a "widow's pension system" and "Widows and Orphans insurance would" and other insurance organization, so that life insurance enterprise.
[Edit] Social Insurance
A modern social insurance system in Germany by the 19th century Iron Chancellor, Otto von Bismarck in order to compete with the socialist movement created by the working class and the first since the European countries have also followed suit, mainly including health care, retirement (pension), etc. aspects.