



Categories

Regulation

Risk
Time
1772 BCE
Locations
Babylonia
The Babylonian King Hammurabi (1792–1750 BCE, according to other sources 1728–1686 BCE) created the so-called "Code of Hammurabi" which contains a legal definition of bottomry, which only had to be repaid if the ship arrived safely. It is regarded as an early example of or possibly the earliest insurance law.