Monday, February 13, 2012

Insurance Fraud

Year ago, when the Romans were fighting in Spain they had trouble feeding their legions. The Senate contracted civilian merchants to transport the grain. The trip proved hazardous, many pirates, storms etc so that the Senate set up an insurance program for the merchants whereby if they lost ships the Senate would compensate their losses.

The Spainish War was a long one and after awhile the cost of the insurance compensation became tremendous due to so many lost ships. Upon investigation the Senate learned that the merchants were sending empty ships out to sea and sinking them, keeping the grain but collecting the money.

There truly is nothing new under the sun.

2 comments:

Anonymous said...

People say that but D&D was new when it hit. One little idea and it changed the whole world of entertainment.

- Grandpa Chet said...

Fritz Lieber and a couple of friends would argue that statement. (That D&D was new.) It was first in being published though, since Fritz, Harry, and the Other Guy never intended to publish their boardgame-which-became-a-rolegame.