Insurance in Elizabethan England

Examines the origins of English insurance, focusing on the first English insurance code and its proximity to continental mercantile practice.

The early history of English insurance is mostly unknown. Using new and extensive archival material, Guido Rossi examines the first insurance code to be written and used in England and demonstrates both its deep links with continental practice and the very marginal role played by the common law.English insurance came into being almost entirely during the Elizabethan period. However, the Great Fire of 1666 consumed most of London's mercantile document, and therefore little is known about early English insurance. Using new archival material, this study provides the first in-depth analysis of early English insurance. It focuses on a crucial yet little-known text, the London Insurance Code of the early 1580s, and shows how London insurance customs were first imported from Italy, then influenced by the Dutch, and finally shaped in a systematic fashion in that Insurance Code. The London Insurance Code was in turn heavily influenced by coeval continental codes. This deep influence attests the strong links between English and European insurance, and questions the common/civil law divide on the history of commercial law.