Evolution of Insurance

[adjusterjack]

Jurisdiction

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The Evolution of Insurance: From Ancient Practices to Modern Protection | insuranceriskworld.com

As civilizations evolved, so did the concept of insurance. In ancient Greece, the city-state of Athens established a fund called the "Naukrarika," which served as a form of maritime insurance. Ship owners would contribute to this fund, and in return, they would receive compensation if their...

insuranceriskworld.com

 

[army judge]

The Evolution of Insurance: From Ancient Practices to Modern Protection | insuranceriskworld.com

As civilizations evolved, so did the concept of insurance. In ancient Greece, the city-state of Athens established a fund called the "Naukrarika," which served as a form of maritime insurance. Ship owners would contribute to this fund, and in return, they would receive compensation if their...

insuranceriskworld.com

Thank you for sharing this information.

I learned a great deal more about Lloyd's of London, specifically how it grew into what it is today from a gathering of movers and shakers in an 18th Century coffee shop.

 

[welkin]

I've been reading articles and watching videos about shipping insurance and how it works after the Frances Key Scott Bridge collapse in Baltimore. It looks like that if they can't prove negligence, then the ship owner is only on the hook for the value of the cargo onboard at the time of the accident.

Great video explaining it.