The Ancient Art of Risk Sharing

In this episode of Saturday Morning Muse, Andy explores the evolution of insurance, tracing its origins from ancient civilizations to modern practices. He discusses how early merchants shared risks to protect their goods, the development of mutual aid societies in medieval Europe, and the establishment of formal insurance contracts. The conversation culminates in the recognition of the need for systematic fire insurance following the Great Fire of London, setting the stage for the emergence of modern insurance marketplaces.

#Insurance #economichistory #financialliteracy #risksharing #greatfireoflondon #mutualaidsocieties