A History of Inventions, Discoveries, and Origins, Volume 1 (of 2)Beckmann, Johann
History
A History of Inventions, Discoveries, and Origins, Volume 1 (of 2)
Beckmann, Johann
Inventions -- History
On the last of October 1563, Philip II. published his maritime laws, in
which some forms of policies are given[707]; but on the last of March
1568 that prince forbade the practice of insurance, on account of the
bad use to which it had been often applied. This prohibition I have not
been able to find. I am acquainted with it only by an order of the
20th of January 1570, in which the king expressly recals it, because
the merchants at Antwerp, both subjects and foreigners, had presented
strong remonstrances against it[708].
In the year 1598, the Kamer von Assurantie, Chamber of Insurance, was
established at Amsterdam. An account of the first regulations of this
insurance-office may be seen in Pontanus’s History of the City of
Amsterdam, and in other works[709].
In the year 1600, regulations respecting insurance were formed by the
city of Middelburg in Zealand.
It appears that the first regulations respecting insurances in England,
which may be seen in Anderson’s History of Commerce, were made in
the year 1601. We find by them that insurers had before that period
conducted themselves in such a manner, that the utmost confidence was
reposed in their honesty, and that on this account few or no disputes
had arisen[710].
In the year 1604, regulations were formed respecting insurance at
Rotterdam; and in 1610 were drawn up those of Genoa, which Magens has
inserted in his work, taken from the Latin statutes of the Republic,
together with a German translation.
In 1612 the Insurance Chamber at Amsterdam was established by public
authority, and received several privileges.
Malynes asserts, but without either proofs or probability, that the
people of Antwerp were first taught insurance by the English; and
says that, as the merchants assembled for transacting business in
Lombard-street, so called because certain Italians from Lombardy
had _lombards_ there, or houses for lending money on pledges, long
before the building of the Exchange, it became customary, as it was
in his time (1622), to be guided in policies by what was done in
Lombard-street, in London.
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