whereof we the assurers will contribute each one according to the rate and quantity of his sum herein assured. And it is agreed by us the insurers that this writing or policy of assurance shall be of as much force and effect as the surest writing or policy of assurance heretofore made in Lombard Street or elsewhere in London. And so we the assurers are contented and do hereby promise and bind ourselves each one for his own part, our heirs, executors and goods to the assured. . . executors, administrators, and assigns for the true performance of the premises, confessing ourselves paid the consideration due unto us for this assurance by Ditto Joy after the rate of three pounds per cent.

In witness whereof, we the assurers have subscribed our names and sums assured in London.

Memorandum.-The assurers do hereby covenant, promise and oblidge themselves, their heirs, executors, and goods in case of loss happening (which God forbid) to satisfie and pay their severall sums of money herein assured, upon the abatement only of ten pounds per cent and no more, provided always that they pay their respective sums of money by them assured according to subscription within one month after. otherwise no abatement whatsoever to be made, but to pay their full sums according to each man's subscriptions, any use or custom to the contrary notwithstanding. Written the day above said:

I, John Berry, am content with this assurance which God £100 preserve for one hundred pounds this 29th June, 1692, præmio recd.

(Here follow eleven other signatures, for £700 in all.)1

1 Mr. Marsden has been so good as to inform me that in the records of the Admiralty Court he has discovered an English policy of 6 Decr. 1557 issued in London, covering the hull and the cargo of the Ele from Velis Maligo to Antwerp and twenty-four hours after arrival. Of the eleven names of underwriters only two are foreign and those are Italian. He has also found a policy in Italian, dated London, 20 Septr. 1547, the signatures and declarations of acceptance of risk at the end being in English. The risk in this case is on the ship Santa Maria de Venetia from the port or bay of Cadiz to London. A French policy which he has found, dated London, 8 Jan. 1565, seems to cover three French ships and cargoes from Havre to Sagres; of these, two were destroyed by the Portuguese and the remaining one was damaged by collision on her return to Havre: to this policy there are thirty-six underwriters. As Mr. Marsden is engaged in editing the records of the Admiralty Court for the Selden Society the texts of these policies will before long be accessible to the public. Meanwhile it is worth mentioning that he considers the policy of 1557 to be the earliest policy in English contained in the Admiralty records. As far as I am able to judge, that policy and the Italian one of 1547 are both based on Italian forms of earlier date and simpler content than that prescribed in the Florentine Ordinance of 1523.-G.

EXTRACT from "Select Pleas in the Court of Admiralty,” edited for the Selden Society by R. G. Marsden, vol. ii. p. 49.1

A.D. 1555.

De Salizar (or Salazar) c. Blackman

File 29, No. 45. Policy of assurance; the libel, ibidem, contains an allegation that the assurers are liable if they do not within two years, or one year, of the ship sailing certify or bring to the knowledge of the assured the goods assured.

In London the fyvthe of August 1555.

Spanyard dwellinge in London dothe cause to be assured in the name of Anthony de (Salizar of) Andwerp from any porte of the Isles of Indea of Calicut unto Lixborne in the ship called Sancta Crux whereof was capytayn and master Fernando and Peter de Lovona (?) upon all kinde of merchaundies whiche shall be laden in the same ship by the handes of Diego de Frias or Anthony Ferrera or other for them apperteynenge to Anthony de Salizar and Ventura de Fryas or to whom soever they shall appertayn. The adventure begeynethe from the ower that the said merchaundies or parte thereof shall begin to be laded in the said shippe untill the sayd shipp shall be arryved savely in Lixborn. And we bynde us

to bere the adventure of the said merchaundies and the costes of the assurances. And we will that he shall not be bounde to bringe any billes of ladinge but onely the chardge of his othe. And so we are contented to bear this adventure. And we will that this assurans shall be so stronge and good as the most ample writinge of assurans whiche is used to be maid in the strete of London or in the burse of Andwerp or in any other forme that shulde have more force. And yf godes will be that the said shippe shall not well procede we promys to remyt yt to honest merchaunts and not to go to the lawe maid as aforesaid.

I Lewes de Paz am contented to bere the adventure in this assurance for the some of Cli money of Englond Cli

(In all 22 subscriptions, for sums varying from £100 to £10. The above and most of the others are crossed out. That of Blackman, one of the defendants in De Salizar c. Blackman, is as follows :-)

We John Blackman and John Watkins ar content to assure in maner and forme abovesaid the vjth of August XXVli 1555.

1 Reproduced with the permission of the Council of the Selden Society and the approval of Mr. R. G. Marsden. This is the earliest policy in English yet discovered (1899).

MARINE INSURANCE COMPANY, LIMITED

Clauses, F.G.A. Y/A.
Conditions -No thirds off. Collision, Deviation and Docking

Cargo and Freight.

Conditions.- Average as customary. Free of particular average, unless stranded, sunk, or burnt. F.G.A. and Y/A Rules. Deviation Clause.

APPENDIX D

THE

.MARINE INSURANCE

COMPANY, LIMITED

LIVERPOOL,

Quotation

Subject to acceptance by

and no risk until confirmed by us.

DEAR SIR-In reply to your inquiry of the beg to inform you that our present rate on

at and from

19

per cent.

(Usual clauses, including F.C. & S.)
I am, dear sir, yours faithfully,

Underwriter.

per