One very rich man suddenly got sick and near to die then he call his children and tell there is a bamboo tree in the corner of his garden and cut it after I die. Children do that and saw that whole bamboo tree filled with gold coins. This shows hat from the ancient time people try o full fill the loss occur after they die
but the history of Insurance begin
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 Babylonians developed a system which was recorded in the famous Code of Hammurabi, c. 1750 BC, and practised 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. (Wikipedia)
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