How Insurance started as a concept?

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How Insurance started as a concept?

i wasn't aware about this feature of ampminsure.From this i can surely write a quality article about insurance.

If one want to trace back the history of the insurance then one need to look up to that period where most of the commerce and business deals used to happen through sea routes only.

So at that moment so many guys used to send the ships along with their valuable material in order to make business but if the weather is really bad then sometimes the ship may used to go out of order and sometimes they do not have any option except removing all the material from the ship in order to save once life.

So, many of the ship owners decided that they should form a common fund and that common fund should be utilized for the purpose of the reimbursement of the monetary losses of the person whose ship is involved in accident.

This is the way how actually insurance started.Now it is far more than marine insurance all over the world.Pet insurance is a new sequel in this industry.

Added on: Tue Apr 07, 2009 9:41 pm by : amit