All of this costs homeowners a lot: in 2017, they reported $ 686 million in liability claims related to dog bites and other dog-related injuries, according to the State Farm and Insurance Information Institute. Dog breeds that are usually excluded from standard policies include Akitas, mastiffs, pit bulls, Alaska malamutes and Rottweilers. If necessary, you can pay more to add coverage for your dog, or when you buy, you can find a policy that covers it. 1947 New York established the Motor Vehicle Liability Safety Fund to cover the insolvency of car insurers.

The Barcelona Regulation was issued in 1435, forcing traders to resort to formal courts in insurance disputes. In Venice, “Consoli dei Mercanti” was established in 1436, a specialized maritime insurance court. In 1520, the Genoa commercial court was replaced by a more specialized “Rota” court that not only followed the merchant’s customs, but also incorporated legal laws. In 1752, Benjamin Franklin and several other prominent citizens founded the Philadelphia Contribution for Fire Loss House Insurance, inspired by a London company. The first fire insurance company in the United States was structured as a mutual insurance company, and Franklin announced it in The Pennsylvania Gazette . Like modern insurers, the company sent inspectors to evaluate properties that the owners requested and rejected that did not meet the standards; rates were based on a real estate risk assessment.

World War II brought a wage freeze and employers, desperate to still attract workers in the country, began to offer the lives of groups and health insurance as benefits for workers. These large policies were often health insurance in China for foreigners offered by companies large enough to pay for them and to provide a significant group of insured employees. There are many misconceptions about car insurance that can distract you from the road and make you wrong.

It was limited to certain industries, cyclic / seasonal industries such as shipbuilding, and none provided for dependents. In 1913, 2.3 million were insured under unemployment benefits and nearly 15 million were insured for sickness benefits. 600 BC founded guilds called “benevolent societies”, which treated the families of the deceased members, as well as the payment of the funeral expenses of the members.

Until the end of the 17th century, many areas remained dominated by friendly societies that raised money to pay medical costs and funerals. However, a rapid expansion of London’s importance in the trading world was introduced at the end of the 17th century. London became a hub for companies or individuals willing to register freighter companies and traders. Lloyd’s of London, one of London’s leading insurers, remains a major insurance company in the city. In Genoa, independent insurance was created in the 14th century that was not linked to contracts or loans.

For example, Travelers Insurance Company sold its first car insurance in 1897 and, in 1919, its first aircraft liability coverage. The annual insurance growth rate in force in the period 1910-1990 was approximately 8.4 percent, representing an increase of 626 times in the 80-year period. In 1989, approximately 3,800 real estate companies and 2,270 life insurance companies were active, with nearly two million employees.