History of Insurance: Part 1

Insurance has been embedded in human society for as long as, well, humans.  Of course, it hasn’t always been as organized and complex.  In fact, for certain societies, insurance was simply managed through offerings of mutual aid.  For instance, two families would agree to help each other entirely, should disaster strike.  Ultimately, this idea of insurance has remained the same, with a few non-monetary based societies still using this verbal agreement as their sole form of insurance.

To further evidence how entrenched insurance has been in human society, the first official insurance policy was written in none other than the Code of Hammurabi, around 1750 BC!  Merchants in China and Babylonia, traveling along the Mediterannean Sea, would redistribute wages as a way to minimize any loss due to theft, loss at sea, or boat capsizing.

Insurance proved to be so valuable to our ancestors that the practice has continued through today.  It has evolved into a reliable, beneficial way of making sure you are protected, even in the case of total loss.  The agents at Latorre Insurance are here to ensure that you are insured, with the best, most affordable plan for you individually.