As early as 1890, merchant-adventures sailing to the New World would secure financial coverage for their cargo in the event of loss with well-to-do financial bankers who would take on the risk of loss for a premium. There men would literally sign their name at the bottom of the page on the bill of goods. They became known as the “underwriters.” Hence the tern Insurance Underwriting got its name.

Such deals were traditionally struck in English “coffee houses” or pubs. These establishments served as the public meeting places for friends and colleagues to ‘talk shop’, make deals and pass the time.

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