Posted by Southwest Beverages on 3/25/2015
Early man initiated the first form of insurance by pooling the human resources of their communities together to assist their neighbors in searching for lost herds, reconstructing damaged shelters destroyed by fire, wind or floods or by providing protection from vandals. This form of insurance is referred to by historians as “social” insurance, which remains prevalent in various parts of the world today.
The first form of “business” insurance dealing with assets of value was practiced by the Chinese in 2000-3000 BC, when merchants traveling across treacherous bodies of land and water would redistribute their merchandise among other merchants to minimize their risk of loss. By 1000 BC the concept of charging money in exchange for insuring a merchant’s goods was created. While merchants continued to minimize their risk of lost by redistributing their goods among merchants, each merchant was now being charge their respective proportion of the insurers cost of insuring the “bundled” goods. This basic form of “business” insurance remained in place until the 14th century when the concept of separate insurance contracts underwritten by wealthy land holders came into being. As the United Kingdom became the crossroads of marine traffic during and following the Renaissance movement in Europe additional forms of “business” insurance were created by sophisticated carriers (e.g. Edward Lloyd-Lloyd’s of London). Many of today’s insurance concepts evolved from these sophisticated carriers.
Today the mere mention of insurance to the small business owner sends shivers up their spine, not because they don’t understand the concept of insurance, but because of how historically insurance salesman have presented it to them-a confusing, exhaustive number of policies many, if not all, of which they did not need.
While there are literally a “non-exhaustive” list of various types of insurance to cover every exposure from every peril possible, for the sake of clarity, this blog groups the various types of insurance into seven (7) broad categories for ease of understanding.
Posted by Southwest Beverages on 3/18/2015
We all heard the saying “no man is an island”, but did you know that there actually is an Isle of Man (British Isle located in the Irish Sea equidistant between England, Ireland, Scotland and Wales) and for that matter an Isle of Woman (more commonly known as Isla Mujeres-small 5 mile long by 400 yard island located 8 miles off the Yucatan Peninsula coast). Many islands of the world derive their name from their geographic formation-Hawaii, Galapagos, Bermuda, Tucks & Caicos, etc. while, a number of islands around the world have been named after shapes (Block Island, Oval Island, Round Island, etc.), birds (Canary Islands, Pelican Island, Dove Island, etc.) sea animals (Seal Island, Whale Island), holidays (Easter Island, Christmas Island) and animals. In the first of a series of articles that will explore how each of these groups of islands were named and their locations, this article will focus on 8 animal named islands of the world (Deer Island, Bear Island, Elephant Island, Goat Island, Rat Island, Horse Island, Rabbit Island and Beaver Island etc.).
Posted by Southwest Beverages on 3/4/2015
While the weather for most of the
United States still dictates winter the calendar dictates it’s the second
Sunday in March and therefore it’s time to “spring ahead” to Daylight Savings
Time. Daylight savings time, that first glimmer of hope that spring is nearing
as more daylight becomes available during the evening affording our children
more daylight to play outdoors, more daylight hours for us to shop and greater
utilization of parks and recreation areas. Benjamin Franklin first thought of
daylight savings time as a means for French shopkeepers to save a millions
francs a years on candles by extending daylight by just one hour at the end of
the day. Over the past 100 years daylight savings time has been adopted by many
countries including the United States and many of its states and cities but not without controversy and disagreement among
politicians and scholars as to its benefits.