First of all, human society has been faced with natural disasters and accidents from the beginning. In the process of fighting against nature, ancient people came up with insurance ideas and original insurance methods to deal with disasters and accidents. Around 2500 BC, the king of Babylon ordered monks, judges and village heads to collect taxes as relief funds. Masons in ancient Egypt set up funeral mutual aid organizations to solve the problem of raising funeral funds by paying membership fees.
Second, the soldiers' organizations in the Roman Empire provided living expenses for the survivors of the fallen soldiers by way of donations, and gradually formed an insurance system. With the development of trade, around 1792 BC, it was the era of Hammurabi, the sixth king of Babylon, and commerce flourished. In order to help businesses and protect caravans that compensate for the losses of mules, horses and goods, the provisions on sharing compensation for losses are stipulated in code of hammurabi.
3. In 9 16 BC, in Rhode Island in the Mediterranean Sea, the king made the Maritime Code of Rhodesia in order to ensure the normal conduct of maritime trade, stipulating that the losses suffered by a shipowner should be shared by the beneficiaries including the shipowner and all shippers. This is the origin of marine insurance.
4. During the Punic War from 260 BC to 146 BC, in order to solve the problem of military transportation, the ancient Romans charged 24-36% of the merchant's expenses as a reserve fund to compensate for the loss of goods. This is the origin of marine insurance.
5. In BC 133, Recchia (mutual aid organization) established in ancient Rome collected 100 ounces and a bottle of sake from people who joined the organization. In addition, 5 cents is charged every month, which is accumulated into provident fund for funeral subsidies. This is the bud of life insurance.
6. Borrowing from offshore. In the Middle Ages, there were high-risk loans in Italy. The interest rate of risky loans is similar to today's insurance premium, but it has declined because of its high interest rate being forbidden by the church. 1384, the first insurance policy appeared in Pisa, and the modern insurance system was born.