Early Forms of Insurance in Muslim Society (on the Example of Such Institutions as Diyah and Zakat), in Problems of Modern Economy (2003), № 3-4 (7-8), Pp. 181-183.
According to most Western experts, insurance originated in the 14th century C.E., although some scholars hold that insurance proper did not appear before the 18-19th centuries. A minority (B. Emerigon, P. Goldschmidt and others) hold that the insurance contract was already known in Ancient Rome. They refer mainly to trade and religious unions known as collegia tenniorum and collegia funeraticia. The insurance contract is the key to this dispute: those scholars who deny the existence of insurance in antiquity and early Middle Ages (up to the 14th century when marine insurance began to be widely practiced in Europe) base their view on the fact that the insurance contract was unknown in those times.