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Posts tagged with vendors - vendors

Insurance and the Historical Nature of Risk.

Author JasonJohnson , 9/30/2013
Managing risk has been in existence since the 2nd Millennium BC.  The  early Chinese and Babylonians both recognized the need to mitigate exposure on their trade routes.  During that time a supplier would place a small fee on the cost of the goods to ensure that in the event of a loss the vendor would not have to pay for the lost goods.