On June 28. 2024 Insurance Awareness Day is celebrated in order to remind people that it sometimes is better to have a backup plan or a good insurance. The origins and the creator of this special day are unfortunately unknown. Insurance stands for the basic principle of a collective assumption of risks. This means that funds from many insured people are used to pay for the losses that some may incur. The practice of transferring and distributing risks, were used in a similar way like it is done today, already in the 3rd and 2nd millennium B.C. by the Chinese and Babylonian traders.