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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Hawkmoon who wrote (111093)4/29/2010 2:31:11 AM
From: Haim R. Branisteanu2 Recommendations  Read Replies (1) of 116555
 
thanks - interesting

“English insurance underwriters in the 1700s often sold insurance on ships to individuals who did not own the vessels or their cargo. The practice was said to create an incentive to buy protection and then seek to destroy the insured property. It should come as no surprise that seaworthy ships began sinking.” And so Parliament responded with the Marine Insurance Acts of the mid-1700s.
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