The Origin and Early History of Insurance

The Ancient and Medieval Roots of Insurance This richly detailed history examines the: “(i) origin and development of the contract of Bottomry and Respondentia down to the 11th century A.D. (ii) the traces of methods of insurance other than life known to the Ancients (iii) The Question whether life assurance was known and practised by the Romans or their predecessors (iv) The history of the development of mediæval insurance in the Low Countries from the family group system and of modern insurance therefrom” (1).” Originally submitted as a thesis to the University of London by the late Dr. C.F. Trenerry, whose intention it was to recast it for publication. Edited by Ethel L. Gover and Agnes S. Paul. CONTENTS Introduction and Summary PART I Origin and Development of Contract of Bottomry and Respondentia Down to the 11th Century A.D. CH. I The Origin and Development of the Contract of Bottomry CH. II The Origin of the Contract of Bottomry, Prior to 250 B.C. CH. III The Contract as Known to the Hindus CH. IV The Contract as Known to the Greeks CH. V The Contract as Known to the Romans PART II Traces of Methods of Insurance Other than Life Known to the Ancients CH. VI Marine Insurance (Other than Bottomry) Practised by the Romans CH. VII Contracts of Indemnity Used by the Romans PART III Whether Life Assurance was Known to the Ancients CH. VIII Life Assurance as Known to the Romans CH. IX Probability that the Romans Had Some Means by which Loss Arising through Death Might be Reduced or Nullified CH. X Allusions to Longevity, Mortality, Etc., by Early Writers CH. XI Sufficiency of the Knowledge of Mathematics and of Finance Possessed by the Romans During the Early Empire for the Calculations Required CH. XII Tables of Annuity Values Which Were Sanctioned by the Roman Law for Purposes of the Lex Falcidia CH. XIII Actuarial Knowledge Not Essential for Transaction of Life Assurance Business CH. XIV Manner of Making Contracts of Non-mutual Life Assurance and of Transacting the Legal Part of the Business CH. XV Nature and Essential Parts of a Contract of Life Assurance CH. XVI Societies Among the Greeks and Romans Which Provided Funds at Death or Members for Burial or Other Purposes, With or Without Other Benefits CH. XVII The Roman Civilian (I.E. Non-Military) Societies CH. XVIII The Roman Veterans’ Societies CH. XIX The Roman Military Societies CH. XX Non-Mutual Contracts for Payment on Death of a Person or Persons as Known to the Romans CH. XXI Examination of Other Extracts from Roman Law which Deal with Contracts of a Similar Nature PART IV Development of Modern Insurance from the Family Group System as Exemplified in Belgium CH. XXII Derivation of Modern Insurance CH. XXIII Development of Communal Insurance from Family Group System CH. XXIV Non-Mutual Insurance Between 1227 and 1310 CH. XXV Marine Insurance CH. XXVI Life Assurance CH. XXVII Marine and Other Insurance in Other Countries APPENDICES BIBLIOGRAPHY