Insurance Teacher

Sources of documentation offer us as well other aspects from the insurance history, thus the oldest mutual associations were founded in the 12th century in Island. There was a mutual association for each household covering according to mutuality principle damages covered by animals. To continue with, the first sea insurance operations were performed in Italian ports in the 14th century.

Moreover, a form of insurance has been the system according to which life annuities have been granted to people. It emerged in France in the 17th century and then it spread to Holland, England and Germany. The system was based on the principle of life insurance but the members used to receive instead of sums covered, life annuities.

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