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Showing posts from August, 2020

The Insurance Industry: A Brief Synopsis

HistoryMarine insurance, the oldest documented form of insurance, originated in Italy in the 13th century. Some may say it was a natural progression from the daring transatlantic voyages embarked upon by the famous Italian explorer Christopher Columbus, but the industry subsequently stagnated. Until, of course, the entrance of the enterprising British, the bigwigs of Maritime trade in the 17th century. Maritime insurance took off in a major way against the backdrop of Edward Lloyd’s coffee shop, which was the place to be for receiving news and up-to-date developments from the seafaring world. Lloyd’s of London was born as was insurance as we know it today.The first life insurance policy was also taken out in London in the 18th century.Insurance has come a long way since those days of long voyages and nautical adventures with not only automobiles and homes routinely insured, but body parts too! From a surgeon’s skilled hands to a footballer’s dexterous legs and even a musician’s melodio…

Understanding Motor Insurance and Insurance Terminology in UAE

Blame it on the weather, our relaxed lifestyles, or just patchy public transport, but living and working without a car in this part of the world is practically impossible. And can we please address the advertising. On every platform available to mankind, we are besieged by brand new cars with great payment options, 20-inch alloy wheels, 360-degree cameras and adaptive cruise control.So you decide to buy that car. But there’s a catch. Did you know that you cannot buy a car without also purchasing car insurance? According to the Road Transport Authority, a valid motor insurance policy is a prerequisite to car registration or re-registration in the UAE. So you decide to buy motor insurance too.And now the realization dawns…information overload is a very real monster and deciding what kind of insurance to go for is more than a little daunting. And here’s where we come in. At Oasis Insurance, we ensure the customer knows all he needs to insure the best possible outcome, pun intended.Types o…