ABSTRACT
The first record of insurance is considered to be contained in the code of Hammurabi, written in ancient Babylon around 1790 bc. This ancient legal code states in clause 23:
If the brigand be not captured, the man who has been robbed shall in the presence of God make an itemised statement of his loss and the city and the governor in whose province and jurisdiction the robbery was committed shall compensate him for whatever was lost.
