Origin Of The Modern Marine Insurance Managerial System In England

The modern marine insurance managerial system was an institutional norm to marine insurance, it contained the administrative supervisory system and the judicial system. In 1575, Queen Elizabeth I promulgated Royal Proclamations"Regulating Insurance Rates", which attempted to provide an administrative supervisory to the marine insurance. In 1601, the English parliament passed"An act concerning matters of assurances Used among merchants", established initially a judicial system for the marine insurance. The two legal documents marked the origin of the modern marine insurance managerial system in England.In basis of these two legal documents, this paper conducts a total study in the origin of the modern marine insurance managerial system in England. The paper contains three parts. The first part is the preface, the author would explain the relative research summarization, the basic concepts, the theories and the methods.The second part is the main part of this paper, which contains four chapters.The first chapter is mainly to introduce the background of origin of the modern marine insurance managerial system. It contains both interior and external factors. The external background mainly means the origin of the modern marine insurance in the Continent. The modern marine insurance of the Continent raised in the 14th century in Italy, and then spreaded in the whole Continent. At the same time, countries in the Continent set out related managerial system. The interior background was the boom of English external trade in the early modern time. Since the mid-16 century, the English external trade had been in an expansion period, and the marine insurance had gained a huge progress, which laid down the firm cornerstone.The second chapter researches the origin of the administrative supervisory system. The promulgation of Royal Proclamations"Regulating Insurance Rates"in 1575 indicated the origin of the administrative supervisory system. There was a fierce discuss before the promulgation of Royal Proclamations"Regulating Insurance Rates". According to the"Regulating Insurance Rates", the England government constructed an administrative supervisory institution combined public character and private character, and made an detailed formulation of the subject of the administrative supervisory system, of the object of the administrative supervisory system, and of the procedure of administrative supervisory. The third chapter researches the origin of the marine insurance judicial system. The passing of"An act concerning matters of assurances Used among merchants"in 1601 indicated the origin of the marine insurance judicial system. There was a fierce debate before the passing of the act. According to the act, the English parliament erected up a Court of Assurance, which was a special merchant court. The crew of the Court of Assurance included lawyers, scholar and businessmen etc. Besides, the"An act concerning matters of assurances Used among merchants"devised a unique characteristic judicial procedure.The forth chapter analyzes the overall characteristic of origin of the modern marine insurance managerial system. The author holds the idea that the most outstanding characteristic is the major activity of the foreign trade merchants, and the benign interaction between the state and the society. The former characteristic relied on the reinforcement of the merchants'economic and political strength. And the second characteristic was the outcome of the conversion of the functions and powers of the state, and of the constant incensement of the societal forces.The third part is the epilogue of the paper, in which summarizes and outlines the main arguments of the paper.