[nwzpaperman]

Perhaps it's possible I didn't google "history of insurance." Thorough reader you are, McWiki!

"history of contemporary insurance"

Merchant insurance was to protect against real property losses. Contemporary insurance is designed to allocate financial losses for financial products (non-real).

[phaemon]

Perhaps you should have googled it before telling us that it was invented by the Catholic church.

Nice try moving the goalposts from health insurance (you know, the topic at hand), but still wrong...try more googling.

[nwzpaperman]

I will put it in layman's terms for you.

Real property protection vs. Financial asset (contemporary legal constructs) loss allocation

Get it?