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The world that we are living in is inherent with risks. No longer do we only have to worry about man made challenges, but we now have to contend with natural catastrophes which are occurring on a more frequent basis.
One of the cornerstones of modern psychology is Maslow's hierarchy of needs which was published in his 1943 paper A Theory of Human Motivation. It provides us with keen insight into human motivation and what drives us to react and respond in certain ways.
Today we are starting to see the changing face of insurance on a global scale.
Setting out the history of insurance regulation, we reached the point when the first piece of UK legislation was passed, the Life Insurance Act (1870).
If you had to hazard a guess, when do you reckon the COFI Bill will be signed into law?