Insurance Teacher

Insurance emerged out of man’s need to feel protected against dangers and in order to find the proper solutions to eliminate them. The oldest forms of insurance have their origins in ancient times and they are about 6500 years old. Stone craftsmen in Lower Egypt founded a mutual help fund, previously formed, through everybody’s contribution to cover damages caused by different misfortunes occurring to the members of the community.

In 650 BC, in Ancient Greece the wise legislator Solon forced political and craftsmen societies to found a common fund fed by monthly contributions, destined to repair prejudices occurred within the group. It is the first compulsory insurance acknowledged. In Babylon and other ancient countries members of caravans used to be organized in associations, paying together damages emerging from robberies or other types of damages during transport.

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