COVERAGE CLAUSE OF LATE 14th CENTURY ITALIAN MARITIME POLICY

Here is the coverage language of a policy issued in Florence in 1397:

Covered Perils: “of God, the seas, of nations, fire, jettisons restraints of lords [perhaps princes?] or peoples, or any other person, or letters marque, of arrest, and of every other case, peril, chance, impediment or mishap, which in any way could occur, or might have occurred, no matter how or under what conditions the cases might occur, excepting only what concerns customs dues and ballast [perhaps stowage].”

This language is quoted in Harold E. Raynes, A HISTORY OF BRITISH INSURANCE 10 (2nd Ed. 1964). The author states that the probably meaning of some of these terms approximate meanings standardly found in “the sixteenth-century marine insurance policy adopted in the Office of Insurance in London, and afterward incorporated in the Lloyd’s policy based thereon.” Id at 10-11.

Michael Sean Quinn, PhD, JD, CPCU, Etc

Michael Sean Quinn, PhD, JD, CPCU, Etc. (530)

One of Texas's leading insurance scholars, Michael Sean Quinn is a past chair of the Insurance Section of the State Bar of Texas and has a broad legal practice.

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