The Origin of Insurance System
The Origin of Insurance System [2017-02-20]
The insurance system is the system created to prepare for future unpredictable disasters or accidents.
In capitalistic society, there are very few people who don’t have insurance.
The first modern insurance system emerged at the Lois Coffee House in London, England.
The main customers of this coffee shop were sea traders.
Edward, the owner of the shop, received a small amount of money, promised compensation for possible accidents, and then signed a contract, which became the first modern insurance system.
