{"id":33289,"date":"2025-01-24T09:00:00","date_gmt":"2025-01-24T08:00:00","guid":{"rendered":"https:\/\/www.11onze.cat\/?p=33289"},"modified":"2025-01-13T12:04:19","modified_gmt":"2025-01-13T11:04:19","slug":"without-insurance","status":"publish","type":"post","link":"https:\/\/www.11onze.cat\/en\/magazine\/without-insurance\/","title":{"rendered":"Can we do without insurance?"},"content":{"rendered":"
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Many people are wary of taking out insurance. Sometimes it doesn’t seem to pay off. But history tells us that it does. The whole point of insurance, beyond the small details, is to ensure that a financial misfortune doesn’t ruin our lives.<\/b><\/h3>\n

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As 11Onze agent Pilar Oltra explains, insurance has generated an “uncomfortable” popularity because <\/span>there is a tendency to think that “we’re taking out smoke and mirrors”<\/b>. But the reality is that they have been with us since the Middle Ages, when communities began to work together in solidarity to guarantee food.<\/span><\/p>\n

The Code of Hammurabi, written more than four thousand years ago in Babylon, devoted hundreds of clauses to the <\/span>bottomry<\/b>. And around the same time, Chinese merchants shared risks by exchanging goods between their ships in case one of them sank. The earliest surviving maritime policy dates from around 1300 and <\/span>there is also a regulation of maritime insurance from 1435<\/b>.<\/span><\/p>\n

It was in the 17th century that the industry took another leap forward<\/b>. The first fire insurance company was created in London, and Lloyd’s was also born. It coined the concepts of “insurance, policy and subscriber in documents very similar to those we sign now”, as Oltra explains.<\/span><\/p>\n\n <\/div>\n <\/div>\n <\/div>\n<\/div>\n\n\n

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