Chapter

Underwriting Risk: The Structure and Organization of Insurance Partnerships in Late Eighteenth-Century Cadiz

Jeremy Baskes

in Staying Afloat

Published by Stanford University Press

Published in print July 2013 | ISBN: 9780804785426
Published online January 2014 | e-ISBN: 9780804786355 | DOI: http://dx.doi.org/10.11126/stanford/9780804785426.003.0007
Underwriting Risk: The Structure and Organization of Insurance Partnerships in Late Eighteenth-Century Cadiz

More Like This

Show all results sharing this subject:

  • History of the Americas

GO

Show Summary Details

Preview

The Cadiz-based insurance industry grew dramatically in the 1780s and 1790s as well-to-do merchants formed partnerships to underwrite the risks of oceanic transportation. Chapter 7 explores the financial structure of these newly created partnerships, as well as how their perceptions of the risks of oceanic trade shaped their business models. Company directors were vested with considerable authority to assess risks and underwrite coverage but always with the goal of diversifying and spreading the risk over as many ships and events as possible.

Keywords: insurance; sea loans; financial instruments; risk; liability; partnerships

Chapter.  10144 words.  Illustrated.

Subjects: History of the Americas

Full text: subscription required

How to subscribe Recommend to my Librarian

Users without a subscription are not able to see the full content. Please, subscribe or login to access all content.