Insurance Babylonian society originated from 4000-3000 BC, known as Hammurabi agreement. Later in the year 1668 AD at the Coffee House Lloyd's of London, London stands as a forerunner to conventional insurance. Sources of insurance law is positive law, natural law and pre-existing examples as culture.
Insurance brings social as well economic mission with the premiums paid to insurance companies with a guarantee of transfer of risk, namely the transfer (transfer) the risk of the insured to the insurer. Insurance as a risk transfer mechanism where the individual or business move some uncertainty as compensation premium payments. Definition of the risk here is that uncertainty occurs whether or not a loss (the uncertainty of loss).
Insurance in Indonesia started in the Dutch colonial period, associated with the success of domestic companies in the plantation sector and trade in Indonesia. To meet the needs of a guarantee of the sustainability of its business, certainly needed the insurance. The development of insurance industry in Indonesia had time to vacuum during the Japanese colonial period.
Collateral requirement can be met by the Life Insurance
1) Personal Needs, including: the provision of the final living expenses such as costs associated with death, the cost of bill payment in the form of loans or loans that must be repaid; family allowances; cost of education, and pensions. In addition, a life insurance policy that has cash value can be used as a savings or investment.
2) Business Supplies, such as: insurance on key persons (insurance for key people within the company); insurance on business owners (insurance for business owners); employee benefits (employee benefits), for example, a collection of life and health insurance.