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Insurance is vital to a free enterprise economy. It protects society from the consequences of financial loss from death, accidents, sicknesses, damage to property, and injury caused to others. The person seeking to transfer risk, the insured (policyholder), pays a relatively small amount, the premium, to an insurance company, the insurer, which issues an insurance policy in which the insurer agrees to reimburse the insured for any losses covered by the policy. Insurance is the process of spreading the risk of economic loss among as many as possible subject to the same kind of risk and is based on the laws of probability (chance of a given outcome happening) and large numbers (enables the laws of probability to work).There are many perils (causes of loss) that society faces, some natural (e.g., earthquakes, hurricanes, tornados, flood, drought), some human (e.g., arson, theft, fraud, vandalism, contamination, pollution, terrorism), and some economic(e.g.,expropriation, inflation, obsolescence, depressions/recessions). Insurers are able to provide coverage for virtually any predictable loss.

Early History
Concepts of insurance evolved thousands of years ago. The Chinese, for example, divided their cargoes among many boats to reduce the severity of loss from the perils of the seas, while the biblical story of Joseph and the famine in Egypt illustrates the storing of grain during the seven good years to relieve shortages during the seven years of famine. Marine insurance emerged in London when ships sailed for the New World. Fire insurance arose from the great fire of London in 1666, in which 14,000 buildings were destroyed. In 1752 Benjamin Franklin founded the first mutual fire insurance company in the United States, the Philadelphia Contributorship for the Insurance of Houses from Loss by Fire. In 1759, he helped establish the first life insurance company, now known as the Presbyterian Ministers Fund. In 1887 the first auto-liability policy was written. Advancing technologies and a dynamic marketplace constantly change society's insurance needs. The insurance industry's goal is to respond to those needs with available and affordable insurance.

http://www.theinsurancecos.com/

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7. Virgin Atlantic - Home

Back in the early 80s Richard Branson was probably best know for Virgin Records - the legendary record label that signed major names like the Rolling Stones, Janet Jackson and The Human League. In 1984, much to the horror of his directors, Richard announced to the world that a high quality, value for money airline would begin operating within three months. Three months, some licences, staff and an aircraft packed with celebrities later, Virgin Atlantic Airways was born. By the end of the decade we had flown over 1 million passengers and started shaking up services onboard by being the first airline to offer individual TVs to their business class passengers.

In 1992 Richard sold Virgin Music to Thorn EMI and invested the proceeds into Virgin Atlantic, improving on an already great service. In the same year we launched the first super economy service that went on to become our award winning Premium Economy. We spent most of the Nineties buying new planes, expanding our route network and generally breaking new ground in passenger service, both on the ground and in the air. In 1999 Richard sold a 49% stake in the company to Singapore Airlines valuing us at a minimum of GBP1.225bn. In the same year, for services to entrepreneurship Richard received a knighthood.

The decade is still young and we've already grown and now offer regular services to 25 destinations worldwide.

In 2001 we were voted OAG Airline of the Year.

In 2002 we were the launch customer for the Airbus A340-600.

In 2003 the launch of the Upper Class Suite gave Upper Class passengers the longest flat bed flying and a great nights sleep.

In 2004 we unveiled the Virgin Atlantic GlobalFlyer, in which Steve Fossett will attempt the first non-stop solo circumnavigation of the world.

http://www.virgin-atlantic.com

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