Saturday, March 29, 2008

Insurance in India

On my recent trip to India I thought about insurance & how it works.

This picture of a farmer taking his produce to market led me to think about the early types of insurance, where farmers would share their produce on different boats, so that if one sank, no single person would lose their entire produce.

This is how insurance still works today - where we pay a small amount to protect a much larger amount.