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These types of insurance have survived to the present day in countries or areas where a modern money economy with its financial instruments is not widespread.
Chinese merchants travelling treacherous river rapids would redistribute their wares across many vessels to limit the loss due to any single vessel's capsizing.
The ancient Athenian "maritime loan" advanced money for voyages with repayment being cancelled if the ship was lost.
In the 4th century BC, rates for the loans differed according to safe or dangerous times of year, implying an intuitive pricing of risk with an effect similar to insurance.
Insurance in the former case entails agreements of mutual aid.
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 or lost at sea.
Achaemenian monarchs in Ancient Persia were presented with annual gifts from the various ethnic groups under their control.
The history of insurance consisted of the development of the modern business of insurance against risks, especially regarding cargo, property, death, automobile accidents, and medical treatment.
The industry helps to eliminate risks (as when fire insurance companies demand the implementation of safe practices and the installation of hydrants), spreads risks from the individual to the larger community, and provides an important source of long-term finance for both the public and private sectors.
This would function as an early form of political insurance, and officially bound the Persian monarch to protect the group from harm.