Slavery is regarded as one of the greatest crimes against humanity, and rightly so, due to its sheer cruelty and moral reprehension. Although the brutality and inhumane treatment of slaves and their consequential effects on the generations that followed have been widely documented and disseminated, less light has been shed on their economic underpinnings. At the heart of this is the central role played by insurance in a historical context in financing the transatlantic slave trade. Insurers have long been major investors in the global economy, as well as its key risk managers. In modern times, the devastating effects of climate change and the COVID-19 pandemic have witnessed unprecedented levels of unemployment and desperation amongst the most vulnerable globally, which has in turn led to their unscrupulous exploitation for both labour and the sex trade. This chapter aims to examine the evolving role played by insurance in modern slavery from its historical origins to the present-day issues faced by the industry, along with its potential to do more in deterring and disrupting the modern slavery ecosystem and shaping risk-reduction efforts to address this ongoing global epidemic genuinely.