Risk and the Importance of Insurance
In the beginning there was risk and the risk consumed progress.Cities were built but then destroyed lives were created but taken away. Investment were made but with no guarantee. Risk was everywhere and at a moment's notice it had the potential to destroy a lifetime of every. Progress was therefore hard and very very slow because with risk undeterred opportunities were deferred risks were feared and rewards were limited and fragile the darkness of risk consumed progress throughout the world but then the darkness began to part as people develop new ideas to hedge risk to limit loss by baby lonian times this concept had become part of the merchant code protecting shipment at see against loss in 1347 this code became a contract in Genoa Italy as the first known insurance policy was written the contract of insurance advanced greatly during the period of enlightement by the 17th century London had become the centre of the insurance world out of necessity. The great fire of London in
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