General Average and Risk Management in Medieval and Early Modern Maritime Business

Download or read book General Average and Risk Management in Medieval and Early Modern Maritime Business written by Maria Fusaro and published by Springer Nature. This book was released on 2023-01-01 with total page 510 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book explores the history of risk management in medieval and early modern European maritime business, focusing particularly on 'General Average' – a mechanism by which extraordinary expenses regarding ship or cargo, incurred during a voyage to save the venture, are shared between all participants to protect equity. This volume traces the history of this risk management tool from its origins in the pre-Roman Mediterranean through to its use in the shipping sector today. Contributions range from the Islamic Mediterranean to the Low Countries, and taken together, provide a wide-ranging analysis of social, cultural, and political aspects of pre-modern maritime commerce in Europe.