Conduction. 1  Conduction is the transfer of thermal energy through direct contact between particles of a substance, without moving the particles to a new location. 2  Usually occurs in solids. 3  When heat is supplied to one end, molecules at that end start to move more quickly.
Episcopalian ministers organized a similar fund a decade later. (The first insurance company in the American colonies was formed before this, in Charleston, S.C., in 1735, but it offered only fire insurance at first. It didnât add life insurance until 1760.). (AP Photo/Lefteris Pitarakis).
Maritime insurance was the earliest well-developed kind of insurance, with origins in the Greek and Roman maritime loan. Separate marine insurance contracts were developed in Genoa and other Italian cities in the fourteenth century and spread to northern Europe. Premiums varied with intuitive estimates of the variable risk from seasons and pirates.