The history of insurance dates back to ancient times, with evidence of risk management practices in the Babylonian laws and the Code of Hammurabi. In ancient Greece and Rome, people insured themselves against various risks, including the loss of slaves and damage to property.
In the Middle Ages, insurance companies emerged in Italy to cover maritime risks, and the process of determining premiums was similar to today's methods. Life insurance began to develop with the increasing knowledge of the human body, but initially, it was more like a lottery, where the last person alive would receive the entire pot.
In the 19th century, insurance companies began to offer more diverse services, including insurance against mold, military service, and political persecution. Some companies even had their own armies to protect clients' assets.
In Poland, the history of insurance dates back to the Middle Ages, with mutual insurance and non-profit insurance organizations emerging over time. The Polish Mutual Insurance Directorate was established in 1927, which later became PZUW and still operates today as PZU.
During World War II, PZUW played a significant role in supporting the Polish Underground State, providing financial assistance and issuing false ID cards to members. The company also used its resources to transport underground members and distribute anti-German propaganda.
After the war, the communist government took control of the insurance industry, but after its collapse, the state monopoly ended, and new companies emerged, offering a range of insurance services, including support for artists and cultural institutions.
Here are the key facts extracted from the text:
1. The Babylonian laws include a provision where the owners of two oxen that fight and one is killed must share the value of both the living and the dead animal.
2. The Code of Hammurabi, created around 300 years after the Babylonian laws, includes more developed insurance issues.
3. In ancient times, slaves could be insured, but not for their benefit, and owners could insure them against escape.
4. In ancient Greece, representatives of Alexander of Macedon offered insurance against escaped slaves for 8 drachmas a year.
5. In ancient Rome, services were developed to include forms of insurance, such as a special deposit for the dowry brought by the bride.
6. The first insurance policies appeared to guarantee money for burial, where people paid contributions and their loved ones were paid a funeral allowance when they died.
7. In the Middle Ages, companies were established in Italy to insure ships sailing on the seas.
8. The oldest known contract of this type dates back to 1347.
9. Life insurance began with the increasing knowledge about the human body, allowing estimations of when someone would die.
10. The first life insurance policies looked like sports betting, where people paid money and received an annuity, but the money remained in the pot when someone died and was divided among the survivors.
11. This type of life insurance first appeared in France and quickly conquered other countries.
12. In the 19th century, companies began to offer insurance against less obvious things, such as mold in cottages, military service, or political persecution.
13. In tsarist Russia, insurance against political persecution was particularly popular.
14. An insurance company from Sardinia offered its clients a unique offer, where farmers who insured their goods could feel safe because the company had its own army to defend the area against robbers.
15. In Poland, mutual insurance has a long tradition, and the country has one of the longest traditions of mutual insurance in the world.
16. The Prussian King Frederick William III established the Fire Society for cities in South Prussia in 1803, making fire insurance obligatory.
17. The Polish Mutual Insurance Directorate was established to ensure that people were not left out in the cold when insuring their property.
18. After regaining independence, the authorities introduced compulsory sickness insurance, unemployment insurance, and health insurance funds.
19. The Polish Insurance Directorate was transformed into Powszechny Zakład Ubezpieczeń Wzajemnych (PZUW) in 1927.
20. PZUW continued to operate during World War II and even helped the Polish Underground State by transferring money and issuing ID cards to its members.
21. The Volunteer Fire Department at PZUW was established in 1942 and had its own fire truck, which was used to transport members of the underground and distribute the underground press.
22. After the war, communism put an end to the state monopoly on insurance, and many other companies were established.
23. Today, insurance companies in Poland offer various forms of insurance, including insurance for artists and cultural events.