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					History of Insurance

Insurance originated from the Babylonian 4000-3000 BC Hammurabi is known
for its agreement. Then in 1668 AD at Coffee House Lloyd's of London
London stands as a forerunner to conventional insurance. Sources of
insurance law is positive law, natural law and the existing examples as

Insurance brings economic as well as social mission with the premiums
paid to insurance companies to guarantee the transfer of risk, namely the
transfer (transfer) the risk of the insured to the insurer. Insurance as
a risk transfer mechanism in which an individual or a business moving
some uncertainty in exchange for premium payments. Definition of risk
here is the uncertainty occurs whether or not a loss (the uncertainty of

Insurance in Indonesia started in the Dutch colonial period, associated
with the success of domestic companies in the plantation sector and trade
in Indonesia. To meet the security needs of business sustainability, of
insurance is required. Development of insurance industry in Indonesia had
a vacuum during the Japanese colonial period.

Security needs to filled by the Life Insurance

1) Personal Needs, including: the provision of living expenses such as
final costs associated with death, the cost of bill payments in the form
of loans or loan must be repaid; family allowance, costs of education and
pensions. In addition, a life insurance policy with cash value can be
used as a savings and investment.

2) Business Needs, such as: insurance on key persons (insurance for the
important people in the company); on business owners insurance (insurance
for business owners); employee benefits (employee benefits) for example,
health insurance and collection.

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