Apparently, insurance history has existed since ancient times BC. Since a long time ago, people have understood the risks and tried to minimize the risks that occur by making mutual protection.
In this article Cermati.com will review insurance history starting from the first idea when insurance emerged until its rapid development in Europe and of course the development of insurance.
Global insurance already has thousands of years since it was created. There are unique things that you need to know about the ins and outs of the events that are the background to this system that was used starting from ancient times to modern times today.
In order to make it easier for readers to understand the history and ins and outs of insurance, we review the history of this insurance into several chronologies.
The history of the development of insurance in the world, divided into several ranges of periods, ranging from the events of BC to the development of modern insurance in this sophisticated era.
Insurance, which is currently used as a method to divert risk, has been used by Chinese and Babylonian (Iraqi) merchants and traders since BC. Previously, traders who inhabited the Euphrat and Tigris river valleys used the ship as a method of shipping goods.
Since then the Babylonian people have been sophisticated in applying guarantees in trading / business. So that at that time it was common for merchants or creditors to provide loans in the amount of money guaranteed by ships and some money.
The ship owner (money borrower) will be released from debt when he learns that his ship survived the expedition. In other words, the vessel that is pledged as collateral can be revoked as a guarantee. Furthermore, the amount of money paid turns out to function as a premium that must be paid for the amount of money or capital received.
In this article Cermati.com will review insurance history starting from the first idea when insurance emerged until its rapid development in Europe and of course the development of insurance.
Global insurance already has thousands of years since it was created. There are unique things that you need to know about the ins and outs of the events that are the background to this system that was used starting from ancient times to modern times today.
In order to make it easier for readers to understand the history and ins and outs of insurance, we review the history of this insurance into several chronologies.
The history of the development of insurance in the world, divided into several ranges of periods, ranging from the events of BC to the development of modern insurance in this sophisticated era.
Insurance, which is currently used as a method to divert risk, has been used by Chinese and Babylonian (Iraqi) merchants and traders since BC. Previously, traders who inhabited the Euphrat and Tigris river valleys used the ship as a method of shipping goods.
Since then the Babylonian people have been sophisticated in applying guarantees in trading / business. So that at that time it was common for merchants or creditors to provide loans in the amount of money guaranteed by ships and some money.
The ship owner (money borrower) will be released from debt when he learns that his ship survived the expedition. In other words, the vessel that is pledged as collateral can be revoked as a guarantee. Furthermore, the amount of money paid turns out to function as a premium that must be paid for the amount of money or capital received.