history

The history and origins of insurance

The history and origins of insurance

Perhaps surprisingly, insurance as a concept has been around as long as humankind in some form of fashion. Insurance at its core is about the distribution and management of risk and as thinking animals, man has been doing so for thousands of years. Whether it was hunting in a group to minimise risk of injury or splitting vital goods among different carriers on a dangerous trail through the wild, both things are at their essence about the distribution of risk. They are 'insurance' and they are designed to safeguard against financial loss.