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[The first insurance system !]


THE FIRST INSURANCE SYSTEM       



In Middle Ages, Selcuks who provided a safe transfer of rich products of the East to the West over Anatolia, had made Anatolian soil preferred by rich merchants with the cautions they took and increased the wealth of the country.Selcuks made commercial agreements with foreigners, gained commercial freedom to them and provided government security against robberies and all kinds of damages that they can encounter during their voyage. They fought with bandits that cut the roads, raiders and pirates that harass merchants and secured the commercial roads. In addition to these, Selcuks were the first to found and practice the “Government Insurance System” in order to revive the commercial life.According to this insurance system, the damages of the merchants whose goods were somehow ruined, robbed or sank in the sea were met by the government treasury.