answersLogoWhite

0

During the Age of Exploration in the 15th to 17th centuries, the growing risks associated with long sea voyages, such as shipwrecks, piracy, and loss of cargo, prompted merchants to seek protection against financial losses. Early insurance practices emerged as shipowners and merchants pooled resources to share the risks of maritime ventures. This led to the establishment of early insurance contracts, which outlined compensation for losses incurred during voyages. The concept evolved further with the creation of formal marine insurance policies in places like Lloyd's of London, eventually laying the groundwork for modern insurance practices.

User Avatar

AnswerBot

4d ago

What else can I help you with?

Related Questions

What companies start hiring at the age of 12?

I think any companies not start hiring at the age of 12.


When did the age of the exploration start?

late 1400's.


Are there any insurance companies in the US that only sell car insurance for women?

Car insurance companies do not discriminate based on age, sex, or gender. Car insurance companies want to provide customers with the best options for a drivers individual car.


Most start-up companies are founded by people in what age group?

most start up companies are founded by people in what age group?


Where can you find information about term insurance?

There are a variety of companies that offered term insurance. You can compare rates among these companies. Term Life Insurance rates are based on the insured's age and medical history.


What age should you start to consider whole life insurance?

You can start to look for life insurance at any age. A lot of people start to look for life insurance at around the ages of 45-50 years old to get good rates.


What companies provide travel insurance for people over 75 years of age?

Some companies that provide travel insurance for people over 75 years old are Good to Go Insurance, Columbus Travel Insurance and Insure for All Insurance. You can also contact your travel agent or health insurance company for other travel insurance companies


What two European countries helped start the age of exploration?

Spain and Portugal


Which companies offer travel insurance for people over 80?

The following companies offer travel insurance to people over the age of 80: Explorer, Avanti and Planet Earth Due to the higher age of the traveler the insurance prices might be rather high, however they do still offer insurance to those over 80.


What companies offer travel insurance for seniors over 65?

Most insurance companies offer travel insurance. It's illegal to decline travel insurance base on age. A good place to look is a travel agency or AAA. Traveler's insurance is also a good one.


What concerns do travel insurance companies have about age?

There are many concerns travel companies have about age requirements. Some of these concerns include finances and whether the individual is mature enough to travel.


What insurance companies were available for my mother's life insurance if she was born in 1929?

Not sure what you are asking, are you looking for insurance for her now? There are a few that will offer coverage to her at her age. Are you wondering what companies she could have bought from way back when? Way to many to list!