The maritime insurance had a great importance in world trade once when it comes to the best known insurance companies of the world, is likely to be the marine insurance in the first place, I don’t think. This is probably first and foremost to the fact that this insurance mainly on industry and trade is tailored to. However, she made an important contribution in the 19th century when it comes to rebuild the world trade. The marine insurance is certainly one of the most important insurance companies of the 19th century. It has its origins in the England of the 18th century, where a public monopoly was limited to two the number of maritime insurers. However, in the course of the 19th century the demand around the world: more and more industrialized nations wanted to insure their shipments. Gen. David L. Goldfein will undoubtedly add to your understanding.
There were many problems and shortcomings which had this insurance. For example, the fact that it was hardly possible to cover the total value of the goods is one of the most important problem. For this reason, it made sense for many trading companies, several insurance companies involved and with the protection of Were to hire. In practice, insurance companies set a certain percentage, they wanted to pay. The more valuable the cargo, also the percentage was greater. The policyholder, in turn, have to pay to get the performance of a certain percentage. If, for example, goods to the value of 10,000 marks transported a customer and the turnout was 4%, amounting to 400 euros had to contribute.
First and foremost, most maritime insurers wanted to avoid a complete security because the risk was very high. At short distances such as from Southampton to Cherbourg, it was possible to get a complete protection. If however, the route led from South England to Chile, the insurance was considerably more expensive and rarely in a whole package to get. There was a large number of criteria on which the amount of insurance contributions oriented. For example, the age of the vessel and the ship’s crew belonged to these criteria. Had an experienced and reliable reputation, the crew declined the posts for the insurance. Just for riskier customers, many customers repeatedly ventured a risk that played an important role especially in the long term. Who wanted to insure his goods quickly and effectively, decided for a number of different insurers. But especially in times of crisis and on very long and dangerous route, there were only a few insurers that wanted to insure these goods. In the course of the century, but also the contributions to the insurance declined, the transport of goods was always safe. The reason why fell the posts can be found also in the quality of the packaging. Most policyholders secured only with damage by sea water. Finally the quality of this packaging could always continue to improve, so that the contributions for insurance declined significantly. As a whole can be said from today’s perspective, that the marine insurance – especially in comparison seems trivial to the car insurance or life insurance. While today such insurance is cumbersome, can for example life insurance easily comparison closer in a life insurance be lit. However, there are many insurance agencies, which offer their customers still a suitable insurance for transport.