History,Business,Insurance,Bus business, insurance History of Business Insurance
As we all know to live in this world we have to perform some activity by which we can earn money. There are many activities by which we can earn money and meet the standards to live in this society. And from one of them is franchise. Franc Small offices have unique needs, and thatincludes document shredding. Designed with the smaller business inmind, the Dahle 20314 is a cross-cut shredder that offers Level 3security and brings you into compliance with federal regulations. The
Business insurance in the simplest form dates back to earlycivilization, if a ship was struck by pirates and lost its cargo other shipowners would pitch in to help. Though a simple idea this is the format for alot of current policies, protect business inventory and reduce risks.Some of the first formal insurance policies where British merchants who wouldunderwrite dangerous voyages overseas. It was the underwriters who perfectedthe art of writing policies and selling policies as time went by insurancebecame more complicated and underwriters specialize in underwriting. Selling ofpolicies had to be done by other individuals hence agents.After the great fire of London the first insurance company was opened in 1667.Later in America Benjamin Franklin opened the first insurance company in 1752.Benjamin Franklin a very shrewd business man because of fire risk would notinsure structures built completely out of wood.So even in early time insurance was pretty straight forward things happen fire,flood, and thefts so individuals and business would need to insure themselvesagainst these disasters. Over time business became more complicated andinsurance had to follow. This meant that most business needed a LiabilityPolicy and Business Owner's Policy. Liability would protect business from anylawsuits brought about by individuals. Business Owner's Policy would actuallyprotect the business from lose from fire, flood, and theft.In 1897 the Workmen's Compensation Act was passed in Great Britain. This madeit mandatory for corporations to insure their employees. This was laid theground work for the present Corporate Liability insurance.Doing business exposes us to risks so insurance is necessary. Just like a firecan consume a home without insurance a lawsuit can bankrupt a corporation. Article Tags: Business Insurance
History,Business,Insurance,Bus