the origin of car insurance

 

 Foreign car insurance originated in the middle and late 19th century. At that time, with the emergence and development of cars in some European countries, accidental injuries and property losses caused by traffic accidents increased. Although all countries have adopted some control measures and measures, the use of automobiles poses a serious threat to people's lives and property. As a result, some savvy insurers are concerned about car insurance.

In November 1896, an insurance intelligence report issued by the British employers’ insurance company in Scotland published the successful passage of the “Road Motor Vehicles Act of 1896”, which was held in London from November 14 to Brighton. Massive auto racing news. In this insurance information, the "annual rate of car insurance fees" was also published.

The earliest development of auto insurance business was the British "Legal Accident Insurance Co., Ltd." In 1898, the company took the lead in the introduction of third-party liability insurance for automobiles, and it was able to attach auto fire insurance.

By 1901, the insurance policies provided by insurance companies had preliminarily assumed the conditions for modern comprehensive liability insurance, and the insurance liability was also extended to theft of automobiles.

Second, the development of automobile insurance abroad

 

In the early 20th century, the automobile insurance industry has developed rapidly in Europe and the United States. In 1903, the United Kingdom established the "General Motors Insurance Company" and gradually developed into a large-scale professional automobile insurance company.