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A History of British Actuarial ThoughtBritish Actuarial Thought in General Insurance (1851–1994)

A History of British Actuarial Thought: British Actuarial Thought in General Insurance (1851–1994) [General insurance—that is, the insurance of risks other than life contingencies—pre-dates life assurance in its development as an established business activity of critical importance to Britain’s economy. Marine insurance first emerged as a significant commercial activity in early thirteenth-century Italy in ports such as Genoa. The earliest historical records of British marine insurance date from sixteenth-century London. Over the following 200 years, the City of London and its insurance institutions such as Lloyds of London developed into a leading global centre of maritime insurance. These institutions delivered dependable insurance to the cargos and sailing ships whose perilous sea voyages drove Britain’s maritime trading economy and the expansion of its Empire.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

A History of British Actuarial ThoughtBritish Actuarial Thought in General Insurance (1851–1994)

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Publisher
Springer International Publishing
Copyright
© The Editor(s) (if applicable) and The Author(s) 2017
ISBN
978-3-319-33182-9
Pages
275 –309
DOI
10.1007/978-3-319-33183-6_7
Publisher site
See Chapter on Publisher Site

Abstract

[General insurance—that is, the insurance of risks other than life contingencies—pre-dates life assurance in its development as an established business activity of critical importance to Britain’s economy. Marine insurance first emerged as a significant commercial activity in early thirteenth-century Italy in ports such as Genoa. The earliest historical records of British marine insurance date from sixteenth-century London. Over the following 200 years, the City of London and its insurance institutions such as Lloyds of London developed into a leading global centre of maritime insurance. These institutions delivered dependable insurance to the cargos and sailing ships whose perilous sea voyages drove Britain’s maritime trading economy and the expansion of its Empire.]

Published: Dec 8, 2016

Keywords: General Insurance; Claim Size; Risk Theory; Liability Insurance; Claim Frequency

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