The history of why insurance broker business essay
~ The cost of small business insurance depends on business size, coverage needs, and business assets and equipment. However, Progressive Commercial estimates that general business liability coverage costs an average of one month. Compare policies from multiple companies to find the best rate for your circumstances. The history of insurance dates back to ancient civilizations. It involves a system of risk management in which individuals or organizations transfer their financial losses to an insurance company. Insurance has evolved in response to new types of risks. the Travelers Insurance Company sold its first accident policy and the first automobile insurance policy. To this day, new types of insurance are constantly being developed to keep up with the risks associated with modern lifestyles. Most important points. The first insurance company in the US dates back to colonial times: the Philadelphia Contributionship, co-founded by Ben Franklin. There have been new species throughout US history. Best budget cover: thimble. Best Workers' Compensation Insurance: The Hartford. Best for Larger Small Businesses: Chubb. Highest Customer Satisfaction: State Farm. Use an insurance marketplace.