was practiced by early Mediterranean sailing merchants. If a merchant received a loan to fund his shipment he would pay the lender an additional sum in exInsurance. What would we do without it? Though it seems impossible, there was a time when insurance on anything didn't even exist. Unfortunately, the early beginnings of insurance are unclear. Over the centuries there have been key writings uncovered that give us some ideas of it's beginning s. But as to an actual moment in time when the first item was insured, no one really knows.

There are theories that insurance goes back to the early days of the Babylonian traders at around the 2nd millennium BCE. They created a system which was recorded in the famous Code of Hammurabi around 1750 BC. This system was practiced by early Mediterranean sailing merchants. If a merchant received a loan to fund his shipment he would pay the lender an additional sum in exc

rly beginnings of insurance are unclear. Over the centuries there have been key writings uncovered that give us some ideas of it's beginning s. But as to an actual moment in time when the first item was insured, no one really knows.

There are theories that insurance goes back to the early days of the Babylonian traders at around the 2nd millennium BCE. They created a system which was recorded in the famous Code of Hammurabi around 1750 BC. This system was practiced by early Mediterranean sailing merchants. If a merchant received a loan to fund his shipment he would pay the lender an additional sum in ex

an actual moment in time when the first item was insured, no one really knows.

There are theories that insurance goes back to the early days of the Babylonian traders at around the 2nd millennium BCE. They created a system which was recorded in the famous Code of Hammurabi around 1750 BC. This system was practiced by early Mediterranean sailing merchants. If a merchant received a loan to fund his shipment he would pay the lender an additional sum in ex

abylonian traders at around the 2nd millennium BCE. They created a system which was recorded in the famous Code of Hammurabi around 1750 BC. This system was practiced by early Mediterranean sailing merchants. If a merchant received a loan to fund his shipment he would pay the lender an additional sum in exwas practiced by early Mediterranean sailing merchants. If a merchant received a loan to fund his shipment he would pay the lender an additional sum in exchange for the lender’s guarantee to cancel the loan should the shipment be stolen.

As a business itself, the first recognizable form of insurance started in Great Britain in 1666. This was in reaction to the "Great Fire Of London." Because of this incident fire became a growing concern in England. Another major concern in England during the time was marine insurance because of England's position in the world of sea trade. Some of the early insurance companies of the time were The Sun Fire Office, Royal Exchange Assurance and Hand In Hand.

As was stated above, there were some early writings that po