[1] For example, a property insurance company may agree to bear the risk that a particular piece of property (e.g., a car or a house) may suffer a specific type or types of damage or loss during a certain period of time in exchange for a fee from the policyholder who would otherwise be responsible for that damage or loss.
[2] The earliest traces are found in medieval Serbia, in Dušan's Code.
It is envisaged that the damage to property landlords compensate from the imperial treasury, and then the funds were restored from taxes.
Newspapers "Novine srbske" wrote in detail about the case, because after a few days Zubanova house burned to the ground, and full amount was paid to the owner.
As of 2016, these are the largest companies in Serbian insurance market by premium income:[3]