EAN: 9783031041204

GENERAL AVERAGE AND RISK MANAGEMENT IN MEDIEVAL...

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.

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