Our History


Friendly Society for a Perpetual Assurance Office, founded in 1706, was the world’s first life insurance company. Individual insurance contracts (i.e., insurance policies not included in loans or other types of contracts) were invented in Genoa in the 14th century, as well as insurance groups supported by land ownership promises. The first known insurance contract dates from Genoa in 1347 and in the next century maritime insurance developed on a large scale and the premiums were intuitively varied with risks. Babylonian, Chinese and Indian merchants used methods to transfer or distribute risks in a monetary economy in the third and second millennium BC, respectively. Chinese merchants crossing treacherous rapids in rivers would redistribute their wares through many ships to limit the loss resulting from the capsizing of each ship.

You probably know that a clean driving record will improve your car insurance rates, but did you know that your profession could also qualify you for a discount?? Car insurers have determined that people in certain professions are more cautious drivers. So if you are a teacher, pilot, accountant or nurse you may be eligible for a discount. In some cases, having a degree related to one of these “low risk professions” may qualify you for rest.

With this type of insurance, the premiums varied depending on unique risks. However, the separation of insurance and loans was a major change that would affect insurance the rest of the time. By removing part of the territory of insurance companies, he sent a clear signal that encouraged industry to regulate itself for fear of more government involvement.

At the end of the 19th century, governments began to launch national insurance programs against illness and old age. Germany was based on a tradition of wellness programs in Prussia and Saxony that started in the 1840s. In the 1880s, Chancellor Otto von Bismarck introduced old-age, accident and health care that formed the basis of the German welfare state. This system was soon exposed as terribly flawed, as rival brigades often ignored building burns when they discovered they had no insurance with their company.

In China, however, Starbucks has taken it a step further by employer-sponsored health insurance, offering to cover workers’ parents. It is limited to employees who have been with the company for at least two years and provides critical disease coverage to parents under the age of 75 living in China for approximately 30 diseases. It seems like a smart business move in a country where many workers feel a lot of responsibility to take care of their parents, and it can make Starbucks a more competitive employer there.

Additional coverage will reimburse you for injuries and cover your medical or legal costs, while others will pay when nature strikes, such as landslides, floods or lightning that damage your vehicle. Go back just over 176 years and you probably wouldn’t recognize life in New York. For starters, the company was not yet called New York Life and did not even sell life insurance.

The concept of securing external indigenous countries originated in the 17th century due to reduced trade or higher local insurance costs. According to Kingston, Lloyd’s Coffeehouse was the prominent maritime insurance market in London in the 18th century, and European / American traders used this market to secure their shipments. Insurance rules and regulations were adopted by Italian traders known as “Law Traders” and initially these rules controlled maritime insurance worldwide. In the event of a dispute, the writer and the policyholder each choose one arbitrator and these two arbitrators elect an impartial third arbitrator and the parties had to accept the majority decision. Because this informal court was unable to enforce its decisions, merchants in the 16th century resorted to formal courts to resolve their disputes. Special courts were established to resolve disputes over maritime insurance such as Genoa, the insurance scheme approved to impose fines, which were not complied with by the Church’s usury bans in 1369.

Under the National Flood Insurance Act, lenders of borrowers owned by these areas are required to apply for flood insurance as a condition of receiving a federally regulated mortgage loan. There is an exemption for conventional real estate loans within the Coastal Bar System areas. We celebrate the anniversary of these programs by recognizing how these health insurance in China for foreigners programs have transformed healthcare over the past 5 decades. On July 30, 1965, President Lyndon B. Johnson issued legislation establishing the Medicare and Medicaid programs. For 50 years, these programs have been protecting the health and well-being of millions of American families, saving lives and improving the economic security of our country.