“Property casualty insurance is the oxygen of commerce. We live in an entrepreneurial economy, and the whole basis of an entrepreneurial economy is risk-taking, and you have to lay off or spread risk. No one person can handle all of the financial and physical risks involved in most businesses.”

so i'm an insurance geek i always tell people i'm bilingual i speak insurance and i speak english

…household her dad was an insurance broker and after grad school she moved to dc and ended up falling into the family business julie says she was drawn in particular to the property casualty part of the insurance industry which covers things like commercial and residential property and car insurance

whole modern global economy couldn't have even gotten started without the idea of pooling risk julie explains that is when early corporations like the east india company or hudson's bay company started undertaking these expensive super risky colonial expeditions across the sea investors would front…

that's what lloyds of london was it was a coffee house and so coffeehouses where rich people gathered became marketplaces where somebody would say oh your ship is leaving tomorrow um what's on it oh it's gold it's going to the new world to pay for the tobacco and sugar that's coming back oh okay…

the u.s julie explains the modern insurance industry developed around a different kind of risk