The chapter connects the histories of risk, insurance, and modern government. It provides the scaffolding for examining the political implications of new risks and mounting sources of uncertainty that override established boundaries. It focuses on relatively simple risks that private markets can readily manage with straightforward commercial techniques. Past experience provides a basis for probabilistic risk assessments, setting reasonable prices for coverage, as well as for successful risk pooling and diversification. The cross-border expansion of insurance and reinsurance markets is introduced as a response to relatively straightforward risks and the scale economies available to be harnessed from their effective management.