Historical development of insurance
Insurance in some form is as old as historical society. So-called bottomry contracts were known to merchants of Babylon as early as 4000–3000 bce. Bottomry was also practiced by the Hindus in 600 bce and was well understood in ancient Greece as early as the 4th century bce.
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The first written insurance policy dates back nearly 4000 years. Here is how insurance came into being and how it evolved from there.
The history of insurance traces the development of the modern business of insurance against risks, especially regarding cargo, property, death, automobile ...
Insurance in the United States dates back to colonial days, when Benjamin Franklin was a property insurance pioneer.