On April 18, 1906, San Francisco experienced one of the largest earthquakes in insurance history in terms of economic damage. The 7.9 magnitude earthquake lasted only about a minute, but caused significant damage...
Building up the country's export potential is one of the priority directions of foreign economic policy of any state. It allows the state to integrate into the international economic space, solve the issues of employment and increase...
In Muslim countries where traditional insurance is considered non-Shariah compliant, an alternative insurance model called takaful is used. Takaful (the word is derived from the Arabic verb "kafala", which means "mutual provision of guarantee")...
Islamic banking is a way of banking that is based on the observance of the religious rules of Shariah. In the holy book "Quran", there are 4 ayats that contain an explicit prohibition on usury...
On April 10, 1912, the British transatlantic steamship "Titanic", nicknamed "unsinkable", set sail from Southampton to New York, on its first and, unfortunately, only voyage. On April 14, "Titanic" collided with an iceberg...
On May 10-11, 1861, the Swiss town of Glarus was hit by a huge fire, which destroyed almost 2/3 of the buildings and caused huge damage to local insurers. For most of them this fire became fatal...
A great contribution to the development of the social insurance system in the world was made by German Chancellor Otto von Bismarck, who in the 1880s introduced a social protection program in the country...
The first evidence of reinsurance contracts dates back to the end of XIV century, when the world's first insurance policy was issued in Genoa. Insurers (individual persons) of that time, in order to protect themselves from great risks...
The history of joint-stock companies began in Europe during the Age of Exploration and the Age of Colonization. The reason for their emergence was the need to invest in the development of colonies....
Barings Bank was founded in 1762 in London by brothers Francis and John Baring, which was initially involved in financing trade deals with the Netherlands. By the beginning of the 19th century...