Burglary Insurance Ratemaking

Burglary insurance is designed to reimburse an insured party for any losses which he may sustain arising from the burglary, robbery, or theft of his property and possessions and any damage thereto. The need for this type of insurance has been recognized for many centuries. The earliest recorded example may be found in France in the year 1161, when a fund was set up which received a special license by edict of Pope Alexander III.