Seien Sie dabei! Since its invention in Italy in the fourteenth century, marine insurance has provided merchants with capital protection in times of crisis, thus oiling the gears of trade and commerce. With a focus on customs, laws, and organisational structures, this book reveals the Italian origins of marine insurance, and tracks the spread of underwriting practices and institutions in Europe and America through the early modern era.
With contributions from eleven leading researchers from seven countries, the book examines key institutional developments in the history of marine insurance. The authors discuss its invention in Italy, and its evolution from private to corporate structures, assessing the causes and impacts of various state interventions.
Amsterdam and Antwerp are analysed as one-time key centres of underwriting, as is the emergence and maturity of marine insurance in London. The book evaluates an experiment in corporate underwriting in Cadiz, and the development of insurance institutions in the United States, before applying the metrics of underwriting to discuss commerce raiding in the Atlantic up to the nineteenth century.
Kunden Login. Internationaler Motorenkongress Februar Springer Professional. Suche Suchbegriffe eingeben Suchen. Inhaltsverzeichnis Frontmatter 1. It provides contingent capital which is transformed into cash in times of crisis, allowing entrepreneurs and companies to trade with smaller quantities of conventional capital than are prudently necessary in their particular, perilous trading environments.
In so doing, insurance transforms many of the uncertainties of capitalism into fixed costs. Marine insurance is probably the oldest financial instrument intended solely to protect against the impact of fortuitous commercial losses.
