In a sense we can say that insurance appears simultaneously puts the appearance of human society. We know that two types of external economies of human societies: money economies (markets, money, financial instruments and so on) in cash or non-natural economies (without money , markets, financial instruments and so on). The second type is an older form than the first. In such an economy in the Community, we can see insurance as people helping people. For example, if a house burns and the members of the Community to help build a new one. The same thing should occur, or in addition, other neighbors must help. Otherwise, you will get no neighbors to help in the future. This type of insurance has survived to this day in some countries or the modern economy, money is not yet widespread financial instruments.
What insurance in the modern sense (eg, insurance money in a modern economy, where insurance is part of the financial sphere), early or transfer methods or risk spreading have been practiced by Chinese traders in Babylonian as long ago as the 3rd and 2nd millennia BC, respectively [11]. Chinese merchants traveling treacherous rapids would redistribute their products and many ships in the loss of a single ship capsized due to a minimum. Babylonia has developed a system that has been included in the famous Code of Hammurabi, c. 1750 BC practiced by early Mediterranean sailing merchants. If a loan to finance an expedition Merchant Kreeger you are, it would pay an additional amount or a lender in exchange for the lender to secure the loan or if you cancel or transfer to be stolen or lost at sea
Achaemenid kings of the ancient Persians have their people and make sure first and official registration or a trial the government insurance notary. From insurance tradition was performed each year in Norouz (beginning of Iranian New Year) or different ethnic group leaders and others who wish to attend, presented gifts to the monarch. From Major gift was presented during a special ceremony. If a gift is worth more than 10,000 Derrik (Achaemenian gold coin) or devastating was enrolled in a special office. Tell beneficial for people who had this special gift offer. For others, donations have been assessed fairly by the confidants of the court. Then, the assessment was registered in special offices.
The purpose of the registry is the person who recorded Wannee or a gift from the court was in trouble, or freezing and the court to help him. Jahez, writer, historian, wrote in one of his books on ancient Iran: "[W] ithout or ownership of the problem lies in the current or would construct a building, the feast of creation, his children are married and so on. are responsible, Shoo said the criminal record check. Indian amount recorded more than 10,000 Derrik, he or she is twice the amount of gain so much. [1]
A year later, "Thousand and Rhodes residents of the concept of the mind" average. Merchants whose goods in all, a first shipment should be used to spread a merchant whose goods were jettisoned during storm or subsidence compensation in return.
The Greeks to the Romans introduced the origins of the disease or life insurance in BC 600 AD when they organized guilds or Benevolent Society, which caused the family pay funeral expenses or members after death. Ins Guilds Ages served a similar purpose. Or treat the Talmud with several aspects of property insurance. Before insurance was established at the end of the century, 17 from each other existed in England, where people donated money to an aggregate amount that can be used in emergencies.
separate insurance contracts (insurance policies say is not bundled loans or other types of contracts) were invented and Genoa in the 14th century, such as insurance supported by poles promises of inheritance. These new insurance contracts allowed insurance to be separated from investment, a separation of roles that first proved useful in marine insurance. Insurance has become much more sophisticated in post-Renaissance Europe, specializing in varieties developed.
Some forms of insurance had been developed by London and the first decades of the seventeenth century. For example, the English colonist Robert Hayman two calls an "insurance policy" is taken from London diocesan chancellor, Arthur Duck. The value of 100 pounds each, one refers to the vessel's arrival in Guyana Hayman Security to set Another is "One Hundred Lays guaranteed by Arthur said Dr. Ducke in my life. Hayman will be signed sealed 17/11 / 1628, but not proven until 1633. [12] At the end of the seventeenth century, the growing importance of London as center for trade and increased demand for marine insurance. In the late 1680s, Edward Lloyd opened a coffee house, that a public meeting Reder, traders was to become captain one last delivery of reliable sources News. It was party meeting or at the beginning of the cargo ships that you provide, and prepare for these companies to subscribe. Today, Lloyd's of London is always either the head (note that n ' is not an insurance company) Marien other specialized forms of insurance, but it works a little differently than more familiar types of insurance.
Insurance as we know it today dates back to the Great Fire of London, more than 13,000 homes in 1666 devoured. From devastating fire or converted development of insurance "a devastating convenience in an urgent change of expression in the integration of Sir Christopher Wren a website" or security "and his new plan for London 1667. [13] A number of anything attempted on fire insurance has failed, but in 1681, Nicholas Barbon eleven employees, created the first fire insurance company in England, "Bureau of Insurance for homes "on the back of the Royal Exchange. Originally, there were 5000 houses provided by the Office of Insurance Barbon [1914].
The first insurance company in the United States has approved the fire was formed in Charles Town (now Charleston), South Carolina, in 1732. Benjamin Franklin helped you, popularizing the practice of insurance against fire is particularly in the form of perpetual insurance. In 1752 he founded Philadelphia Ship fee for the insurance of houses against fire. Franklin was the first company to contribute to the fire. Not only did his company warn against fire hazards for some, has been denied to certain buildings where the fire risk was too great, all wooden houses for sure. In the United States, regulation of the insurance industry is very balkanized, puts the primary responsibility of each ministry or state insurance. Considering that insurance markets are centralized at the national level to international level, the State Insurance Commissioners working individual, but once in concert through an organization of national insurance commissioners. In recent years, some have argued for a dual state and federal regulations (usually called optional federal charter (OFC)) for this insurance to any state or national bank supervises banks.
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