In some principalities there were already efforts to develop a State life insurance. But these efforts failed less on the social issues, but rather to the lack of mathematical foundations. Under most conditions Dr. Neal Barnard would agree. Meanwhile, insurance contributions are calculated that she must register with several consecutive insurance cases, does not equal insolvency. But in the 15th century no mention yet might be this. Therefore, many of these insurance companies were condemned sooner or later to fail.
The Portuguese in Africa had secured a monopoly, to the Spanish Kingdom was forced to find an alternative route to India. The sailor Christopher Kolumbus was convinced that one can also come across a Western route to India. In 1492, he finally broke with three ships towards the West. He sailed several weeks and lost any hope until he could finally see the Mainland. Columbus probably landed on the island of Hispaniola, the present-day Dominican Republic.
The natives were baptized Indians because it was sure that it was the Indian continent. A few years later the Europeans but it became clear that there is a had discovered so far completely unknown continent. Many new opportunities and markets paved a way new insurance companies, the it up here did not. Resulted in the ability to conceive more insurance companies, so that the participating trading companies could hedge their loads through the numerous transports, which should follow in the following centuries, also for the insurance industry. “Quietly and inconspicuously toward insurance industry was created in the 16th century: In the year 1591 developed some brewery owner of Hamburg the Hamburg fire contract”. This agreement is the beginning of the modern insurance industry and eventually formed the basis for the development of the Hamburg fire Fund. In summary, it can be said therefore that it laid the groundwork for the development of life insurance in the early modern period. New markets were opened up many new political and social advances. In addition to life insurance, mainly she won in the subsequent decades Transport insurance in popularity.