May 01, 2012
from 05:00 PM to 06:00 PM
|Where||Barbara White Room, Newnham College|
|Contact Name||Sheryl Anderson|
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'Towards a new institutional analysis of London's insurance market' by Adrian Leonard.
Adrian Leonard is a PhD candidate in the Faculty of History studying under Professor Martin Daunton and Dr D'Maris Coffman, supported by the Centre for Financial History at Newnham College and the Cambridge Centre for Risk Studies. His main area of interest is marine insurance in Britain and the British Empire from the seventeenth to nineteenth centuries. He is currently exploring the efficacy of marine war insurance premiums and their contribution to reducing transactional frictions in British trade.
This paper examines the development of London's marine insurance market, one of the City's most enduring success stories, through the analytical framework of New Institutional Economics - although from the standpoint of a sceptic of this theoretical construction. The paper shows how marine insurance institutions, endogenous and exogenous, developed alongside England's increasing importance in ocean-going trade to favour the early and sustained primacy of London marine insurers on the international stage.