(Source: Duncker & Humblot)
ABOUT THE BOOK
Series: Comparative Studies in the History of Insurance Law / Studien zur vergleichenden Geschichte des Versicherungsrechts, Vol. 11
Insurance is a legal, an actuarial and a financial product, and it is one out of many risk management strategies. It follows that its history can only be studied in the broader context of the development of such strategies, applying an interdisciplinary approach. The theme of the present volume is maritime risk management. After an overview over the history of insurance, the contributions to the present volume examine different maritime risk management strategies by adopting a variety of methodological approaches. Some contributions focus on normative provisions, others contrast practice with legal scholarship, or focus on the emergence of insurance companies as opposed to individual insurers. Again, other contributions give insights in marine insurance practice in specific cities or analyse insurance practice through the lens of specific insurance litigation. As to the time frame, the different contributions span from antiquity to the nineteenth century.
ABOUT THE EDITORS
Guido Rossi is Reader in European Legal History at the University of Edinburgh, Scotland.
Phillip Hellwege is Professor of Private Law, Commercial Law, and Legal History at the University of Augsburg, Germany.
TABLE OF CONTENTS
Preface 6
Summary of Contents 8
Maritime Risk Management: Marine Insurance, General Average, Sea Loan 10
A. Introduction 10
I. Insurance as a legal product 10
II. Insurance as an actuarial product 12
III. Insurance as a financial product 13
IV. Insurance as a risk management strategy 14
V. An interdisciplinary approach to studying insurance 14
B. Histories of insurance 15
C. The objective and structure of the present volume 16
Insurance and Wealth: The Historical Trajectory of Changing Markets and Strategies in Insurance 18
A. Introduction 18
B. Identifying risk in society 19
C. Expanding risk and insurance development 22
D. Shifting demand for long-term insurance –the new wealth instruments 25
E. Complex future of risk 33
The Insurance Function of Roman Maritime Loan 36
A. Back to the roots 36
B. Legal nature of maritime loan 40
C. Insurance elements 45
I. Contracting parties 47
II. Insured object 50
III. Risk 52
IV. Premium 55
V. Coverage period 57
VI. Compensation 58
D. Conclusion 59
Maritime Risk Management Instruments in Medieval Castile (Thirteenth to Sixteenth Centuries) 62
A. Risk, damage and contribution in maritime transport 63
B. Maritime trade and royal safeguards 66
C. The development of insurance practice in medieval Castile 68
I. Bottomry 68
II. Premium insurance 70
D. Maritime insurance in the consulate ordinances 73
I. The model policy of Burgos 73
II. The Ordinances of Bilbao 74
III. The Ordinances of Burgos 76
IV. The Ordinances of Bruges 77
E. Conclusion 81
Managing Shipping Risk: General Average and Marine Insurance in Early Modern Genoa 84
A. Insurance and general average in Genoa’s regulations: two parallel approaches to shipping risk management 84
B. The need for consistent regulations and the 1589 Civil Statutes 89
C. Routes and navigation risks: the general average claim reports 94
D. Routes and navigation hazards: policies of Sigortá Marittima 102
E. Conclusion 110
General Average in Scotland during the Sixteenth Century 112
A. Scotting and lotting in the practice of maritime communities 113
B. Marrying practice with theory in books composed by lawyers 122
C. Reconfiguring maritime practice in the courts of the admiral 130
The Ordonnance sur la marine on General Average. Comparative Methods, Legal Transplants, and a European droit commun 140
A. Introduction 140
B. The Ordonnance sur la marine of 1681 on general average 142
I. Distinguishing avaries, avaries simples et particulières, avaries grosses et communes, and menues avaries 142
II. Avaries simples et particulières and avaries grosses et communes: similarities and differences 145
III. Details on the procedure of contribution under avaries grosses et communes 149
C. Comparative methods, legal transplants, anda European droit commun 150
I. The Ordonnace sur la marine of 1681 andthe European droit commun on maritime law 151
II. A comparative interpretation 154
III. Adaptations and innovations 156
IV. From droit commun to a nationalized maritime law 158
D. Conclusion 161
War, Risks, and Speculation: The Accounts of a Small Livorno Insurer (1743–1748) 162
A. The firm 162
B. Facing the insurance market 165
C. The dangers of an open market 169
D. Navigating without a compass 173
E. Boasi’s insurance accounts 176
F. The interest or not interest clause and the Bubble of 1747 181
G. Conclusion: from individuals to companies 185
The Transformation of the Marine Insurance Market in the Seventeenth and Eighteenth Centuries in Spain 190
A. From individual insurers to a system of specialised insurance companies in the seventeenth century 194
B. The predominance of insurance companies in Spanish trading ports in the eighteenth century 200
C. Conclusions 207
Commercial Networks, Maritime Law, and Translation in a Spanish Insurance Claim on Trial in France, 1783–1791 210
A. Commercial choices in a multicentric Atlantic world 214
I. Surviving monopoly: the Basque presence on the Venezuelan coast 215
II. A Cádiz-Marseille financial axis 217
III. Underwriting Atlantic risks from the Mediterranean 220
B. Contract enforcement in a foreign legal foru 224
I. Facts and factums 225
II. Starting the pursuit in two ports 227
III. Rules of engagement in the Admiralty’s eighteenth-century courtroom 228
IV. Timing, evidence, depreciation 231
V. Absurd geographies 239
VI. Expectations halfway met 242
C. Conclusions 244
Governance of General Average in the Netherlands in the Nineteenth Century: A Backward Development? 248
A. Introduction 248
B. The background and mechanisms of general average in the Low Countries 253
C. General average adjustment in Amsterdam in the seventeenth and eighteenth centuries 255
D. The governance of general average in the nineteenth century 259
E. Conclusion 262
Unions and Networks in Nineteenth-Century Antwerp Marine Insurance Industry 266
A. Introduction 266
B. Antwerp as a center of commerce in the nineteenth century 270
I. The Antwerp marine insurance policy of 1824 273
II. Presentation of the Antwerp marine insurance corporations 276
C. Marine insurance cooperation structures 278
I. The marine insurance companies established by Auguste Morel: Bureau Veritas, Bureau Central, 1° Cie and 2° Cie 278
II. Marine insurance corporations form unions 280
1. Première Réunion 280
2. From one to five unions 283
D. Profile of the managers of the marine insurance corporations 289
E. Connections between marine insurance corporations 291
F. Conclusion 294
List of Contributors 298
Index 299
More information with the publisher.
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