this post was submitted on 24 Dec 2023
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“The idea of distributing risk has been around since the 14th century when insurers of trading ships wanted someone to share the uncertainties of long sea voyages. (mastodon.world)
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“The idea of distributing risk has been around since the 14th century when insurers of trading ships wanted someone to share the uncertainties of long sea voyages.

“Modern reinsurance was established in 19th-century Europe, which some historians credit to large fires in Hamburg, Germany, and Glarus, Switzerland, where significant losses led to the founding of many of today’s leading reinsurance companies.”

@histodons #history #insurance #reinsurance #RiskManagement

https://hakaimagazine.com/features/in-the-face-of-mounting-climate-risks-the-insurance-safety-net-is-falling-apart/

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