The formation and development of modern insurance (1) Marine insurance has its earliest origin among all kinds of insurance. It is the development of marine insurance that drives the prosperity and development of the whole insurance industry. The development of human history has never been separated from the ocean. The benefits and risks of maritime trade coexist, and in the long-term navigation practice, a way of sharing the losses of maritime accidents-general average sharing has gradually formed. In 9 16 BC, the law of Luo Di 'an Sea stipulated: "If the goods on board are abandoned for the benefit of all, and the load on board is lightened, the losses shall be shared by all beneficiaries." It is also mentioned in the Roman Code that general average can only be contributed when the ship is rescued. Modern marine insurance has gradually evolved from the ideas of cargo mortgage loan in Babylon and Phoenicia. /kloc-After 0/4th century, modern marine insurance became popular among Italian businessmen. 1384, the world's first modern insurance policy was born in Florence. This policy ensured the safe transportation of a batch of goods from Alsace in southern France to Pisa in Italy. In this policy, there is a clear subject matter of insurance and a clear insurance liability, such as "maritime accidents, including losses or injuries caused by ship breakage, grounding, fire or sinking". Among other responsibilities, the losses of ships and goods caused by "piracy, abandonment, capture, revenge and surprise attack" are also listed. /kloc-after the 0/5th century, the opening of new routes made most goods from western Europe pass through the Atlantic instead of the Mediterranean. /kloc-In the 6th century, British businessmen regained overseas trading rights from foreign businessmen and actively developed trade and insurance business. By the second half of16th century, it was chartered by the Queen of England. The Royal Exchange of London has set up an insurance chamber to handle the registration of insurance policies. 1720, with the approval of the queen, two insurance companies, Royal Exchange and London, officially became professional marine insurance companies. 1688, Mr. Lloyd opened a cafe named after himself near the Tower of London Street. In order to win in the competition, Lloyd has a unique eye, and found that he can take advantage of the opportunity that sailors returning from abroad often stay in cafes to inquire about the latest overseas news, and then turn cafes into the center for releasing aviation news. Because the maritime affairs here are well-informed and the wealthy businessmen are full every day, the insurance broker takes this opportunity to hand over the nuclear insurance policy to every insurer who drinks coffee, and they will sign their names and the insurance amount in turn at the end of the note until the total insurance amount is consistent with the insurance amount filled in the note. With the continuous development of marine insurance, the number of Lloyd's insurance companies is increasing and its influence is increasing. 187 1 year, the British parliament formally passed the bill, making it a social organization-Lloyd's. Up to now, Lloyd's has 14000 insurance companies. Today, its insurance coverage is not only pure marine insurance. (2) Fire Hazard Fire hazard originated from the Hrepps Society established in Iceland on118, which is responsible for compensating for fire and livestock death losses. /kloc-At the beginning of the 0/7th century, the system of mutual aid associations for fire fighting and disaster relief prevailed in Germany. 1676, the first public insurance company, Hamburg Fire Insurance Bureau, was established by the merger of several associations. But the real fire risk developed after the London fire. 1666 On September 2, the city of London was burned by fire for five days. Of the city's 448 acres, 373 acres are in ruins, accounting for 83.26% of London's area. 13,200 houses were destroyed, property losses exceeded120,000, and more than 200,000 people were displaced and homeless. Survivors after the disaster are very eager to have a reliable guarantee to make up for the losses caused by the fire, so fire insurance has become very important to people. In this situation, the clever dentist Ba Peng set up a wholly-owned business office in 1667 to handle residential fire insurance. 1680, he raised 40,000 pounds with three other people. A fire insurance office was established and renamed Phoenix Fire Insurance Company on 1705. A considerable number of Bapon's customers are people who rebuilt their homes after the London fire. The fire insurance company in Bapon calculates the insurance premium according to the house rent, and stipulates that the insurance premium of wooden structure houses is twice as high as that of brick structure houses. This method of classifying insurance according to the dangerous situation of houses is the origin of modern fire insurance differential rates, and fire insurance has become modern insurance, which is similar to marine insurance in time. 17 10, Bofan founded London Insurance Company, later renamed Sun Insurance Company, and accepted movable property insurance other than real estate, covering the whole country. From the end of 18 to the middle of 19, Britain, France, Germany and other countries successively completed the industrial revolution. Machine production has replaced the original manual operation, and material wealth is concentrated in large quantities, which makes people's demand for fire insurance more urgent. During this period, fire insurance developed very rapidly, and the form of fire insurance companies was mainly joint-stock companies. /kloc-in the 0/9th century, a large number of fire insurance companies appeared in Europe and America, and their underwriting capacity was greatly improved. A fire in Chicago 187 1 caused a loss of10.5 billion US dollars, of which the insurance company paid10.0 billion US dollars, which shows the wide coverage of fire insurance at that time. With the demand of people, the risks covered by fire insurance are also expanding day by day. The underwriting responsibility extends from single fire to non-fire hazards such as earthquake, flood and storm, and the subject matter of insurance also extends from houses to various fixed assets and current assets. /kloc-In the late 20th century, with the expansion of imperialism, fire hazards spread to developing countries and regions. (3) Life insurance once included life insurance in the process of the emergence and development of marine insurance. /kloc-In the late 5th century, European slavers insured African slaves shipped to America as goods, and later the crew on board could also be insured; In case of accidental injury, the insurer will give financial compensation, which should be the early form of life insurance. /kloc-In the middle of the 7th century, Italian banker Renzo Tonti proposed a joint pension law, which was later called "Tonti Law" and was formally implemented in 1689. According to the law of Tong Di, everyone has to pay francs to raise a total of 654.38+400,000 francs. After the expiration of the insurance period, it is stipulated to pay 654.38+00% every year, and the subscribers will be divided into several groups according to their age, with the older ones paying more interest. The characteristic of "Children's Law" is to pay interest to the survivors of this group, and stop paying if all the members of this group die. Halley, a famous astronomer, compiled the first life table in 1693 according to the death statistics of Breslow citizens in Silesia, which accurately expressed the death rates of all ages and provided a basis for the calculation of life insurance. In the 1940s and 1950s, Simpson made a rate table that increased with the increase of mortality according to Harley's life table. After that, Todd calculated the premium according to the age difference and put forward the theory of "balanced premium", which promoted the development of life insurance. London Fair Insurance Association, founded in 1762, is a life insurance organization based on insurance technology.
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.