Traditional legal institutions represent significant legal sources of today’s, modern insurance law institutes. They arose and developed in the early times through the powerful influence of unwritten customs and morals that shaped the first, rudimentary forms of insurance. In this paper, the authors explore the forerunners of today’s institutions of legal business and insurance using domestic and available foreign literature. Although in some cases there is controversy regarding the year or period of origin of a traditional legal institution, the authors did not address the establishment of accurate historical data (because this is largely impossible due to the lack of reliable historical sources), but the content and effect of the institute and the principles of legal the business of insurance and, to some extent, their spread to other nations and states.
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