'Organizational choice in UK marine insurance' in R Pearson & T Yoneyama (eds), Corporate Forms and Organizational Choice in International Insurance

Notes:

Deals with the changing organizational forms developed to deliver marine insurance in the 18th and 19th centuries, notably before 1824 the Lloyds market and Royal Exchange Assurance and London Assurance, the last two enjoying monopoly privileges, and post 1824 joint stock companies and, notably here, P&I clubs. Considers why these forms emerged, relative advantages / disadvantages, etc. Has sections: 'Early marine insurance - finding solutions to the problem of adverse selection?'; 'Shipowners' mutual associations - the primacy of risk selection'; 'The new market structure after 1824'; 'The P&I clubs - networks and innovation'