Volume 9, Numéro 2, Pages 354-374

A Concise Study Of Insurance In Europe And North America From The Sixteenth Century To The Present Day

Authors : Khineche Soumèya Salima .


The issue of insurance has for a long time been raging and warmly debated by a number of scholars who were unable to find suitable solutions to spread a wholesome, worldwide, and comprehensive insurance system, from the sixteenth century till nowadays. Briefly, this article reveals the importance of the industry of insurance since time immemorial, and how this sector has been indispensable for the general social welfare throughout that era (16' c_ present). It has evolved across time and place to make people less selfish and more altruistic because to care about the others is a way to respect them as persons and not as mere means. Moreover, insurance is perceived as a security for all people, and that in life, marine and fire insurance at first place, as stated in the Golden Rule "do unto others what you would have them do unto you. Yet, people have the tendency to ask themselves multiple questions as for example.' who manages and structuralizes this huge and risky investment? In other words; from a financial perspective, who backs up the multiple and worldwide public and private insurance companies? Is it under a public or state ruling? Moreover, who beneficiates from this business? Finally, has this socio-economic investment remained in both Europe and the Americas. or crossed the Atlantic Ocean to settle in areas where the principle of insurance was a generous means to undo the rest of the world's quarter from the chain of socio-economic servitude, ever? In brief,' this case study examines an overall view of how the insurance industry was and keeps being a turning point in the history of Europe as well as North American, for it emerged from Europe to take its full dimension throughout the rest of world. Finally, insurance policy portrays how a multitude of debates and bundle of compromises came to establish an essence of cooperation for both government and citizens world's affairs.


insurance, coverage, insurance industry, insurance types, insurance companies