Introducing 

Prezi AI.

Your new presentation assistant.

Refine, enhance, and tailor your content, source relevant images, and edit visuals quicker than ever before.

Loading…
Transcript

History Of Insurance

The history of insurance describes the development of the modern business of insurance against risks, especially regarding cargo, property, death, automobile accidents, and medical treatment. Early methods of transferring or distributing risk were practiced by Chinese traders as early as the 3rd millennia BC. These merchants travelling treacherous river rapids would cleverly distribute their wares across many vessels to spread the loss due to any single vessel's capsizing. Modern profit insurance manifested in Babylon almost 2000 years B.C., in a contract of loan of trading capital to travelling merchants. The contract contained a clause that the risk of loss due to robbery in transit was borne by the party providing the loan. In consideration for bearing this risk, the lender calculated interest on the loan at an exceptionally high rate.

What is Insurance?

Aids To Trade - Insurance

An Insurance is a contract (policy) in which an individual or entity receives financial protection or reimbursement against losses from an insurance company. The company pools clients' risks to make payments more affordable for the insured.

Learn more about creating dynamic, engaging presentations with Prezi