Maritime Institutions Records
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Maritime Institutions Records: Indicative content of the page as a short text in english.
The need to check the seaworthiness and safety of ships, as well as the continuous advancements in technology, necessitated the creation of specialist organisations known as Registers of Shipping. These promoted the consistent application of specifications and regulations concearning shipbuilding and maintenance, essential for safety at sea. Nowdays the Registers of Shipping are independent, non-governmental technical organisations of classification of ships. The certificates they issue for a vessel are essential for chartering, insuring and selling it.
The institution of Registers of Shipping originated in London over 200 years ago. Already from the 1760s Lloyd’s underwriters had adopted regulations for the classification of wooden ships and commissioned surveyors issued certificates of seaworthiness. During the 19th century the Registers of Shipping were created as separate organisations that continue to operate to this day, such as Lloyd’s Regiter of shipping in Britain, Bureau Veritas in Holland and France, Det Norske Veritas in Norway, Germanischer Lloyd in Germany, Registro Italiano in Italy, American Bureau of Shipping in the U.S.A. and «Archangelos» in Greece.
Marine insurance has existed as long as ships. In its modern form it goes back to the 14th century, to the main mercantile maritime centre of the age, the Italian peninsula. In the 18th century Lombard merchants who emigrated to England brought with them the know-how on insuring ships and cargoes. It was in Britain, the world's greatest naval power during the 18th and 19th centuries, that the technique of sharing rask among many merchants, the system of marinε insurance as we know it today, developed. In the late 17th century Edward Lloyd's coffee house was the popular venue where merchants,underwriters and shipowners met to insure cargoes and ships, as well as to buy and sell. During the 19th and 20th centuries Lloyd's grew into the largest marine insurance market in the world.
Insurance Companies Memoranda
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