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Fun Facts
The insurance industry has become a cornerstone of the global financial system, with insurers
managing over several trillion dollars in assets. The term "insurance" originates from the Latin word
"securus," meaning "safe" or "secure," reflecting its role in mitigating risks and providing financial
protection. The first recorded insurance contract dates back to 1347 in Genoa, Italy, aiming to protect
merchants from potential losses during sea voyages.Today, the insurance sector encompasses a wide range
of services, from traditional life and property insurance to innovative products like cyber insurance
and parametric insurance. It employs thousands of actuaries, underwriters, and risk management experts
who help individuals and businesses navigate this complex landscape and secure their financial stability
in an uncertain world.