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When was Insurance First Used

50 bytes removed, 01:46, 19 February 2016
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By the mid first millennium BC, in the 5th century BC, during the time of Achaemenid Persian rule of Babylonian (i.e., southern Mesopotamia), the Murashu banking firm and family also seems to be involved in issuing insurance to their customers.<ref>For information about the Murashu family and their involvement in providing insurance to their clients, see: Hillprecht, Hermann Vollrat. 2013. ''Business Documents of Murashu Sons of Nippur Dated in the Reign of Artaxerxes I (464-424 B.C.)''. Nabu Press.</ref> This firm is among the earliest known private corporations that is named and their involvement in insurance makes them among the earliest known insurance companies anywhere.
Figure 1[[File:P1050763_Louvre_code_Hammurabi_face_rwk. The Law jpg|thumbnail|Code of Hammurabi is Hammurabiis one of the earliest documents that describes the system of bottomry, where owners would borrow money and return it with interest to lenders. This was a form of insurance to protect cargo for the owners (https://upload.wikimedia.org/wikipedia/commons/6/64/P1050763_Louvre_code_Hammurabi_face_rwk.JPG).]]
==Insurance in China==
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