Early History of Insurance

It is expected to start with a knowledge of the history of insurance easier as it would be to live or animated background and origin.

Of extracting economic history and human culture since the days of BC discovered the origin story to the development of insurance as it is today. In the early development of insurance is certainly not shaped like now, but in a form that is still vague.

Humans generally have instincts are always trying to save his soul from a variety of threats, including the threat of lack of food / food.

One of history on this issue stated in the Qur'an Surat Yusuf verses 43-49 and the Old Testament Book of Genesis 41.

It is related of one of the king in the land of Egypt dreamed that seven lean cows masingrmasing-skinny swallow a fat cow. In the second dream the king saw seven empty grain.

Prophet Yusuf AS was asked to interpret the dream and explained that the state of Egypt will experience seven consecutive years of fertile wheat harvest and then the next seven years in a row will experience lean times.

Furthermore NabiYusuf U.S.. suggested that at the time of harvest the abundant harvest was mostly reserved for the lean years to come.

In addition it is an ancient book of India which dinami "Rig Veda" written in Sanskrit mentions a history of "Yoga Kshema" meaning coverage. The above history is the proof that humans always think about and prepare for his future life.

Around the year 2250 BC the Babylonians live in the Euphrates and Tigris river valleys (now Iraq), at the time when a shipowner need funding to operate a boat or doing a trading business, he can borrow money from a merchant (creditor) with using the ship as collateral with the agreement that the owner of the vessel freed from debt payment if the vessel safely to the destination, in addition to a sum of money in return for the risks that have been borne by the lender.

Additional charges may be considered the same as "premiums" are known in the insurance now. In addition to be used as collateral vessels, can also be used as collateral in the form of goods cargo (Cargo).The transaction is called "RESPONDENT / A CONTRACT".