Did you know that the whole idea for insurance started out with the Phoenicians? They depended heavily on trade. Because shipping was expensive, and there was always the risk of losing ships and their cargo, they needed a way to mitigate those risks. Voila insurance! (Smart people, those Phoenicians!)
The ancient Romans were the first to take the concept of marine insurance and apply it to individuals. They created “burial clubs” to help cover the cost of members' funeral expenses and assisted survivors…
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