In 1598, in the period when Amsterdam developed into a leading centre of commerce, the Amsterdam municipality instated the Chamber of Insurance and Average. The Chamber's Commissioners were to adjudicate on marine insurance disputes: as the city's insurance market expanded, the number and complexity of disputes between underwriters, insured and insurance brokers warranted a specialised court. During the two centuries it existed, the Chamber has influenced the development and growth of the marine insurance market in various ways. Especially during the first decades of its existence, when procedures and routines were established and its authority still had to be acknowledged, the Chamber's rulings were of great influence on the behaviour of the various groups of actors and the overall expansion of the Amsterdam insurance industry.
|Translated title of the contribution||The Amsterdam chamber of insurance and average: Its foundation and the first decades of its existence (1598-1621)|
|Number of pages||18|
|Publication status||Published - 1 Jan 2014|