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MOst are of opinion that this way of insuring, was first invented by the Romans, and Suetonius will have it that Clau∣dius Caesar was the first contriver thereof, and by that means so incouraged Merchants,
that they ventured into the till then sup∣posed innavigable Seas; proposing to themselves that if they escaped with their Lives, tho both Ships and Goods were lost, they should not be much indammaged.
All assurances are either Publick or Pri∣vate, the first are those that are entered in the Office or Court of Assurance, for the Conveniency of Merchants kept upon the Royal Exchange in London; where any one may have knowledge of what Cargo is in∣sured and of the Premio. The last is in Pri∣vate between man and man, and not enter∣ed in the Office, and are of equal Validity at common Law, but by the Statute of the 43 of Elizabeth, only those that are enter∣ed in the Court of Assurance can be tryed and determined there, the other being left to the common Law only. These Assuran∣ces are divers of sorts, some being made for places general, others certain; those upon certain places or Ports are made upon Goods laden, which if they miscarry before they are safely Landed at the place agreed on, the Insurer must make good as far as he has insured, but upon certain notice of their safe Arrival, he may demand the Premio a∣greed on, and the Policy is then void, and the like upon Goods inward bound, or ac∣cording as the Merchant and Insurer can a∣gree.
A General Ansurance is when a Ship goes a Trading Voyage, taking in at one Port and vending at another; so that the Insurer is lyable to any damage she sustains till she returns in safety to the Port from whence She sets out, that is in her Cargo only, unless the Ship and her Appurtenances are insured, which are frequently included, tho then the Premio runs higher.
Goods sent by Land may likewise be in∣sured, tho that seldom happens; or if any Person fears being taken by the Turks or Moors, he may insure his Person of a cer∣tain Premio, and then if he be taken, the insurer is obliged to Ransom him: that is, pay so much money as is insured, some∣times the Assurers insert in their Policies lost or not lost, that is, when Ships have been a long time abroad, and no advice of their being in any Port, but then the Premio runs high as 30, 40, and sometimes more per cent. for if the Ship be lost at the time the Poli∣cy is Subscribed, yet so much as is insured must be made good, but then it must be contrary to the knowledge of him that in∣sures, or otherwise it will be accounted a Fraud.
If any Person assures a Rotten Vessel for more then She is worth, and then going out of the Port or Harbour, She Privately
causes to be Wrecked or Sunk, if it can be proved it is a Defraud, and he who Sub∣scribed the Policy, is not bound to make satisfaction, but it is observed of late that seldom any one Person will insure a whole Ship; but Subscribe 50 pound, 100 pound or more at a certain Premio, currant at the time of assuring; which when the adven∣ture is Born they receive; but if a loss hap∣pens, the Premio is deducted together with the usual Abatements; so that the insured seldom receives more then 80 pound in the 100 pound, and many now adays are so adventurous, that they will ensure against Heaven and Earth; Stress of Weather, Storms, Enemies, Pirates, Rovers, and all other Casualties. If a Merchant ensures a Ship, he only names in the Policy of such a Burthen, then if She be lost the Insurers are bound to make the Ship only good, and not the Wares: If the Wares be insured it matters not whether each particular is mentioned in the Policy, but in general up∣on the chief Commodities, and all other Commodities laden or to be laden for the ensured.
If a Ship be Ensured and take Fire 'ere She break Ground, the Assurers in such a case are not lyable to make Restitution, unless the words be in the Policy at such
a Port, or from such a Port, unless She had first broken Ground, and had been forced back again by Storm.
If a Ship be Ensured and prove Leaky, and the Master for preservation of the Car∣go, lade it into another Ship, and that Ship be lost, the Ensurer is not bound to make the Cargo good, unless in the Policy it is mentioned, untill the Goods by the said Ship or any other should be safely Landed at such a place, naming it.
It is held that if a Person Ensure more Goods then he has on Board, and several Persons Subscribed the Policy, yet the first Subscribers are only bound to pay the loss if they miscarry, and those that Subscribed over and above the value of the Goods, remitting their Premio 10 Shillings per cent. reducted for their Subscriptions are discharged: If a Cargo be Ensured to such a Port there safely to be unladed, and her Cargo is sold on Board, the Property be∣ing altered, if the Ship afterwards miscarry, the Ensurer is not obliged to make it good, if the buyer agrees for the Fraight to be car∣ryed to any other Port.
If Goods be Ensured, and the Ensured contrary to the knowledge of the Ensurer, Lades prohibited Goods, by which the Ship may become forfeited, then the Ensurer
is not lyable to make good the Cargo, unless after the lading of such Goods they are prohibited.
If any Goods be damaged in the Ship by neglect of the Master or Mariners, the Ensurer is not bound to make Satisfaction. And further 'tis always expedient to prevent differences that may arise between the En∣surer and the Ensured, that the Bills of lading consist of three parts, one to be sent over Sea, the other left with the Master, and the last with the Lader.
This Office or Court of assurance, was erected by the Statute of the 43 of Eliza∣beth, Chap. 12, whereby the Judges or Com∣missioners appointed to determine differen∣ces arising, were the Judges of the Court of Admiralty, the Recorder of London, two Doctors of the Civil Law, two Barristers, eight discreet Merchants or any five of them, and that they or the Major part, should have Power to hear, examine, order or decree all such causes in a Summary way, without pleading or expence, and to have Power to Summon Parties to Examine up∣on Oath, commit to Prison upon disobedi∣ence, or the like; but this way being found tedious, because so many parties as made a Court, were not at all times to be Conve∣ned, it was taken into consideration, and
in the 12 of Car. 2 Chap. 23 Enacted that 3 Commissioners should make the Court viz. a Doctor of the Civil Law, a Bar∣rister of 5 Years standing, and a Merchant, &c. who have Power to Act in all cases, after their being Sworn before the Lord Major; and if the Witness refuse to come upon the first Summons, and tender of reasonable charges, upon the second Sum∣mons they may imprison them for such their contempt, or give costs, and commonly differences come to an Issue in a Fort∣night, their proceedings being as well out of Term-time as it.
The Judgments are there given upon mature deliberation, by Persons well Skil∣led in Marine affairs; and if the Sentence be supposed unreasonable, then the Lord Chancellor or Lord Keeper, may upon an appeal determine the same; tho no appeal from thence can lye before the whole mo∣ney is deposited, and the full cost payed to the appelled. So that it prevents the trouble of taking up the Party by Execu∣tion, against whom the Decree has passed, and a further advantage is, they may in this Court decree against 20 Ensurers at once, which at common Law must be Sued di∣stinctly, tho the Execution cannot lye a∣gainst Body and Goods, but against either as at Common Law.
And lastly if a private Policy of assu∣rance, be lost, and no Entery be found, it is like a Burnt Deed, unless strong Evi∣dence be produced; as likewise a Copy of the same: but if it be a Publick Policy, then the Entery is sufficient Testimony for this Court to take Cognizance of.