Category:Insurance: Difference between revisions

Revision as of 21:11, 21 April 2011

INSURANCE.

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Revision as of 02:49, 13 March 2011 (view source) Randylyon (talk \| contribs) (New page: INSURANCE. Insurance as it is known today was practiced by Chinese and Babylonian traders in the 3rd and 2nd centuries BC, respectively. Chinese merchants crossing treacherous river rapid...)		Revision as of 21:11, 21 April 2011 (view source) Randylyon (talk \| contribs) (Replacing page with 'INSURANCE.') Newer edit →
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	INSURANCE. Insurance as it is known today was practiced by Chinese and Babylonian traders in the 3rd and 2nd centuries BC, respectively. Chinese merchants crossing treacherous river rapids would redistribute their wares across many vessels to limit the loss due to any single vessel's capsizing. Babylonians developed a system recorded in the famous Code of Hammurabi, c. 1750 BC, and practiced by early Mediterranean sailing merchants. 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.		INSURANCE.

	~~In Dubuque, individuals and companies involved with insurance have included:~~