History of Insurance

Insurance World - Insurance has actually been known since the days before BC in which men in those days had saved his soul from various threats, including food shortages.

One of the stories about food shortages occurred in Ancient Egypt during the rule of King Pharaoh. One day the king had a dream which was interpreted by the Prophet Joseph that during the seven years the land of Egypt will experience a bountiful harvest and then followed by a period of famine during the next 7 years. To guard against famine, the, King Pharaoh followed the advice of the Prophet Joseph to give a part of the crop in the first 7 years as a reserve food during a famine. Thus the period of 7 years of famine in Egypt people avoid the risk of severe famine that swept across the country.

In 2000 BC merchants and actors in the Italian form "collegia Tennirium", a kind of insurance agencies that aims to help the widows and orphans of members who died. Similar association of "collegia Nititum", then stood with members of the slave who had been in the army of the Roman empire.

Each member collected a number of contributions and when one member had the misfortune (unfortunate) the funeral expenses will be paid by members who fared well (Fortunate) using funds that had been collected previously.

Such association is one of the early emergence of the concept of insurance, namely those who are lucky or good fortune to help people who are not lucky.

Also an ancient book of India, entitled "Rig Veda" which was written in Sanskrit mention a history of "Yoga Kshema" meaning coverage. History of the above is the proof that the man constantly thinking about and preparing for his future life.

Around the year 2250 BC, the Babylonians lived in the valley of the river Euphrates and Tigris (now Iraq), at the time when a ship owner requires funds to operate a boat or making a trading business, he can borrow money from a merchant (creditors) with use the boat as collateral with the agreement that the shipowner is exempt from paying its debts if the vessel is safe until the goal, in addition to a sum of money in return for the risks that have been borne by the lender.

These additional costs can be considered similar to "cash premium" known to the insurers now. Besides the ship which is used as collateral, can also be used as collateral in the form of goods cargo (Cargo). Such transactions are called "respondents / A CONTRACT".

History of insurance from year to year

The year 215 BC

In the year 215 BC the Roman Empire Government urged by the Supplier of equipment and supplies the royal army to accept the concept that protects them against all risks of loss they suffered on their goods on the ship as a result of maritime hazards and enemy attacks as well as storm .

50 BC

CICERO in approximately 50 BC gave an explanation of the practice of granting protection or security against the safety of sending money and securities during the trip. In return the party who were given protection to such remuneration in the form of premiums to the protection provider.

Year 50-200

Emperor Claudius issued an assurance to the importer against all losses they suffered due to wind storm. Obviously in this case also the premium charged. In about the year 200 in Rome grew gatherings called "collegia". Roman soldiers "collegia" social activities held, among others, raise funds for funeral expenses of its members who died or were killed on the battlefield.
The bondsman was formed with the intention Collegianya be buried with the dead when feasible (called collegia Nititum). Similarly, merchants and actors forming collegia in Italy called "collegia Tennorioum" with a view to helping the widows and orphans of its members.

Year 1194-1266

The development of the human economy from year to year goes on and this period is known a "Guild System" (System Gilda), ie associations of people who have the same profession, then at that time formed a guild carpenters, bakers guild and so on.

The goal is the same as the purpose of collegia in Roman times, namely to improve the welfare of its members. From the data in the base can be said that the "collegia" and "System Gilda" is a social inventions which gained popularity and public recognition of the existence of risks that must be addressed. The development of institutions that are similar to insurance continues to grow and eventually in the reign of QUEEN ELEANOR of Belgium (1194 - 1266) established the Insurance Act are listed in the "ROLE'SDE Oleron"