History – Insure Invest Financial

First Insurance Companies

20 February 2018 admin

First Insurance Companies Marine insurance is the oldest branch of modern insurance, originating with the Lombard merchants in 13th century Italy, from whence it spread to the continent and then to England. The British dominated maritime trade and also marine insurance throughout the 1800s and well into the 1900s. Lloyd’s of London As a center of commerce and global trade, Great Britain was a natural place for marine insurance to develop, and one of the major insurers of voyages was Lloyd’s of London. Insurance was written by individuals rather than…

History of Insurance

20 February 2018 admin

History of Insurance The earliest forms of insurance were a primitive form of commercial insurance, especially in regards to shipping goods, since cargo was often lost or damaged or stolen by thieves and pirates. Please earliest methods of reducing risk involved either the pooling of risk or transferring the risk to moneylenders or investors of expeditions. For millennia, the primary and economical means of transport was to use waterways, but boats carrying cargo were often destroyed in rapids along the rivers. Enough cargo made it through to still make it…