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Claims and loss handling is the materialized utility of insurance; it’s the precise “product” paid for. Claims could also be filed by insureds immediately with the insurer or by way of brokers or agents. The insurer might require that the declare be filed on its own proprietary types, or could settle for claims on a regular industry form, corresponding to these produced by ACORD. Codex Hammurabi Law 238 (c. 1755–1750 BC) stipulated that a sea captain, ship-manager, or ship charterer that saved a ship from complete loss was only required to pay one-half the worth of the ship to the ship-owner.

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