World Insurance: The evolution of a global risk network

Luis Lobo-Guerrero*

*Corresponding author for this work

    Research output: Contribution to journalBook/Film/Article reviewProfessional

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    Abstract

    As Frank C. Spooner noted in 1983 (Risk at Sea: Amsterdam Insurance and Maritime Europe, 1766-1780, Cambridge, Cambridge University Press), it was insurance and not war or diplomacy what made possible the opening of the markets in the Far East in the first decade of the seventeenth century. Travelling with traders, insurance not only enabled venturing into unknown markets but also began to effect the globalisation of a rationality of thinking and managing uncertainty as risk. Insurance, more than a financial instrument is the embodiment of a rationality of thinking and managing uncertainty, a crucial element for the understanding of western globalization in the modern period.
    Original languageEnglish
    Pages (from-to)638-639
    Number of pages2
    JournalBusiness History
    Volume57
    Issue number4
    DOIs
    Publication statusPublished - 1-Apr-2015

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