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Escaping from the State? Historical Paths to Public and Private Insurance

Published online by Cambridge University Press:  27 July 2020

ROBIN PEARSON
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Abstract

The history of insurance has been characterized in most countries by the coexistence of a wide range of organizational forms. The reasons for this plethora of vehicles remain unclear, as does the impact of this diversity on the development of insurance around the world. Drawing on the latest research, this paper examines, first, the different functions of the state in relation to insurance in a wide range of national markets from the early modern period to the present century; second, the path-dependent effects that determined the historical distribution of public and private forms of insurance; and third, the relation between public and private insurance and its impact on market development.

Keywords

insurancefinanceregulationpath dependency
Type
Article
Information
Enterprise & Society , Volume 22 , Issue 4 , December 2021 , pp. 1037 - 1066
Copyright
© The Author(s), 2020. Published by Cambridge University Press on behalf of the Business History Conference. All rights reserved.

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Footnotes

Earlier versions of this paper were presented at the X Congress of the Spanish

Economic History Association (AEHE) conference in Carmona, and at the XVII World Economic History Congress in Kyoto. I thank the participants for their useful comments, and also the editor and three anonymous reviewers for Enterprise and Society whose advice and suggestions have greatly improved this article.

References

Bibliography of Works Cited

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Bebel, August. Aus meinem Leben. Berlin: Dietz, 1964.Google Scholar
Bismarck, Otto von. Dokumente seines Lebens. Leipzig: Philipp Reclam, 1986.Google Scholar
Borscheid, Peter. 275 Jahre Feuersozietäten in Westfalen: Vorsprung durch Erfahrung. Münster: Westfälische Provinzial-Versicherungen, 1997.Google Scholar
Brewer, John. The Sinews of Power: War, Money and the English State, 1688–1783. Cambridge, MA: Harvard University Press, 1990.Google Scholar
Clark, Geoffrey. Betting on Lives: The Culture of Life Insurance in England, 1695–1775. Manchester: Manchester University Press, 1999.Google Scholar
Engelberg, Ernst. Bismarck: Das Reich in der Mitte Europas. Berlin: Siedler, 1998.Google Scholar
Froot, Kenneth A. ed. The Financing of Catastrophe Risk. Chicago: University of Chicago Press, 1999.10.7208/chicago/9780226266251.001.0001CrossRefGoogle Scholar
Gesellschaft für Feuerversicherungsgeschichtliche Forschung e.v. Das Deutsche Feuerversicherungswesen. 2 volumes. Hanover: Rechts, Staats und Sozial-wissenschaftlicher, 1913.Google Scholar
Hannah, Leslie. Inventing Retirement: The Development of Occupational Pensions in Britain. Cambridge: Cambridge University Press, 1986.10.1017/CBO9780511720611CrossRefGoogle Scholar
Hansmann, Henry. The Ownership of Enterprise. Cambridge, MA: Belknap Press, 1996.Google Scholar
Hennock, E. P. British Social Reform and German Precedents: The Case of Social Insurance, 1880–1914. Oxford: Clarendon, 1987.Google Scholar
Koselleck, Reinhart. Preussen zwischen Reform und Revolution. Munich: DTV, 1989.Google Scholar
Leonard, A. B., ed., Marine Insurance: Origins and Institutions,1300–1850. Basingstoke: Palgrave Macmillan, 2016.Google Scholar
Lönnborg, Mikael. Internationalisierung av Svenska Försäkringsbolag. Uppsala: Acta Universitatis Upsaliensis, 1999.Google Scholar
Lüdtke, Alf. Police and the State in Prussia 1815–50. Cambridge: Cambridge University Press, 1989.Google Scholar
Macnicol, J. The Politics of Retirement in Britain, 1878–1948. Cambridge: Cambridge University Press, 1998.10.1017/CBO9780511549403CrossRefGoogle Scholar
Mohun, Arwen P. Risk: Negotiating Safety in American Society. Baltimore: Johns Hopkins University Press, 2013.Google Scholar
Pearson, Robin. Insuring the Industrial Revolution: Fire Insurance in Great Britain, 1700–1850. Aldershot: Ashgate, 2004.Google Scholar
Pearson, Robin, and Yoneyama, Takau, eds. Corporate Forms and Organisational Choice in International Insurance. Oxford: Oxford University Press, 2015.10.1093/acprof:oso/9780198739005.001.0001CrossRefGoogle Scholar
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Supple, Barry. The Royal Exchange Assurance: A History of British Insurance 1720–1970. Cambridge: Cambridge University Press, 1970.Google Scholar
Tebeau, Mark. Eating Smoke: Fire in Urban America, 1800–1950. Baltimore: Johns Hopkins University Press, 2003.Google Scholar
Trebilcock, Clive. Phoenix Assurance and the Development of British Insurance. 2 volumes. Cambridge: Cambridge University Press, 1985, 1998.Google Scholar
Zappino, Jorge S. El Instituto Mixto Argentino de Reaseguros: La Formaçion de un Mercado Naçional de Seguros (1946–1952). Buenos Aires: Ediciones Cooperativas, 2007.Google Scholar
Zwierlein, Cornel. Der gezähmte Prometheus. Feuer und Sicherheit zwischen Früher Neuzeit und Moderne. Göttingen: Vandenhoeck & Ruprecht, 2011.Google Scholar
Bleakley, Hoyt, and Lin, Jeffrey. “History and the Sizes of Cities.” American Economic Review 105 (2015): 558 –563.10.1257/aer.p20151069CrossRefGoogle Scholar
Borscheid, Peter. “Vertrauensgewinn und Vertrauensverlust: Das Auslandsgeschäft der Deutschen Versicherungswirtschaft 1870–1945.” Vierteljahrschrift für Sozial- und Wirtschaftsgeschichte 88 (2001): 311 –345.Google Scholar
Borscheid, Peter. “History of the Insurance Industry in Germany.” In Encuentro Internacional Sobre la Historia del Seguro, edited by Caruana, Leonardo, 43–68. Madrid: Fundaçion Mapfre, 2010.Google Scholar
Brown, Samuel. “On the Progress of Fire Insurance in Great Britain as Compared with Other Countries.” Assurance Magazine 7 (1857–1858).Google Scholar
Büchner, F. “Die Entstehung der Hamburger Feuerkasse und ihre Entwicklung bis zur Mitte des 19. Jahrhunderts.” In 300Jahre Hamburger Feuerkasse, 1–50. Karlsruhe: Hamburger Feuerkasse, 1976.Google Scholar
Cutler, David M., and Gruber, Jonathan. “Does Public Insurance Crowd Out Private Insurance.” Quarterly Journal of Economics 111 (1996): 391–430.10.2307/2946683CrossRefGoogle Scholar
David, Paul A. “Clio and the Economics of QWERTY.” American Economic Review 75 (1985): 332 –337.Google Scholar
De Souza, Bruno Gabriel Witzel. “Immigration and the Path Dependence of Education: The Case of German-Speakers in São Paulo, Brazil (1840–1920).” Economic History Review 71 (2018): 506 –539.10.1111/ehr.12575CrossRefGoogle Scholar
Driel, Hugo van, and Devos, Greta. “Path Dependence in Ports: The Persistence of Cooperative Forms.” Business History Review 81 (2007): 681–708.10.2307/25097420CrossRefGoogle Scholar
Fanfani, Tommaso, “Private Insurance in Italy: A Sector for the Growth of the Nation.” In Encuentro Internacional Sobre la Historia del Seguro, edited by Caruana, Leonardo, 97–140. Madrid: Fundaçion Mapfre, 2010.Google Scholar
Fishback, Price V., and Kantor, Shawn Everett. “The Durable Experiment: State Insurance of Workmen’s Compensation Risk in the Early Twentieth Century.” Journal of Economic History 56 (1996): 809 –836.10.1017/S0022050700017484CrossRefGoogle Scholar
Guinnane, Timothy W., and Streb, Jochen. “Incentives That (Could Have) Saved Lives: Government Regulation of Accident Insurance Associations in Germany, 1884–1914.” Journal of Economic History 75 (2015): 1196–1227.10.1017/S0022050715001618CrossRefGoogle Scholar
Hansmann, Henry. “The Organisation of Insurance Companies: Mutual versus Stock.” Journal of Law, Economics and Organisation 1 (1985):125 –152.Google Scholar
Jitschin, Adrian, “From Economic to Political Reality: Forming a Nationalized Indian Life Assurance Market.” In The Development of International Insurance, ed. Pearson, Robin, 133 –144. London: Pickering and Chatto, 2010.Google Scholar
Jones, W. J. “Elizabethan Marine Insurance: The Judicial Undergrowth.” Business History 2 (1960): 53–66.10.1080/00076796000000001CrossRefGoogle Scholar
Kang, Z. “Assurances Moderne en Chine: Une Continuité Interrompue (1801–1949).” Risques no. 31 (1997): 103 –120.Google Scholar
Kepler, J. S. “The Operating Potential of London Marine Insurance in the 1570s: Some Evidence from ‘A Booke of Orders of Assurances within the Royall Exchange.’” Business History 17 (1975): 44–55.10.1080/00076797500000004CrossRefGoogle Scholar
Kingston, Christopher. “Marine Insurance in Britain and America, 1720–1844: A Comparative Institutional Analysis.” Journal of Economic History 67 (2007): 379–409.10.1017/S0022050707000149CrossRefGoogle Scholar
Kingston, Christopher. “Marine Insurance in Philadelphia during the Quasi-War with France, 1795–1801.” Journal of Economic History 71 (2011): 162 –184.10.1017/S0022050711000064CrossRefGoogle Scholar
Kwon, W. Jean. “History of Insurance, Market Development and Regulation in Seven Least Developed Countries in Asia: Afghanistan, Bangladesh, Bhutan, Cambodia, Laos, Myanmar and Nepal.” Asia-Pacific Journal of Risk and Insurance 5 (2010): 1–39.Google Scholar
Larsson, Mats, and Lönnborg, Mikael. “The History of Insurance Companies in Sweden, 1855–2005.” In Encuentro Internacional Sobre la Historia del Seguro, edited by Caruana, Leonardo, 197–237. Madrid: Fundaçion Mapfre, 2010.Google Scholar
Liebowitz, S. J., and Margolis, Stephen E.. “Path Dependence, Lock-in, and History.” Journal of Law, Economics and Organization 11 (1995): 205 –226.Google Scholar
Libecap, Gary D. “Institutional Path Dependence in Climate Adaptation: Conan’s ‘Some Unsettled Problems of Irrigation.’” American Economic Review 101 (2011): 64–80.10.1257/aer.101.1.64CrossRefGoogle Scholar
Mesa-Lago, Carmelo. “History of Social Security in Latin America.” In Encuentro Internacional Sobre la Historia del Seguro, edited by Caruana, Leonardo, 309 –347. Madrid: Fundaçion Mapfre, 2010.Google Scholar
Murray, John E., and Nilsson, Lars, “Accident Risk Compensation in Late Imperial Austria: Wage Differentials and Social Insurance.” Explorations in Economic History 44 (2007): 568 –587.10.1016/j.eeh.2007.02.001CrossRefGoogle Scholar
Pearson, Robin. “Who Pays for Pensions? Das Problem der Alterssicherung in Grossbritannien im Zwanzigsten Jahrhundert.” Zeitschrift für Unternehmensgeschichte 48 (2003): 48–57.10.1515/zug-2003-0105CrossRefGoogle Scholar
Pearson, Robin. “Lloyd’s of London.” In History of World Trade since 1450, edited by McCusker, John J., 2: 466 –469. Farmington Hills, MI: Macmillan Reference, 2006.Google Scholar
Reeves, W. P. “State Insurance in New Zealand.” North American Review 182 (1906): 62–73.Google Scholar
Rohrbach, Wolfgang. “Von den Anfängen bis zum Börsenkrach des Jahres 1873.” In Versicherungsgeschichte Österreichs, edited by Rohrbach, W., 1: 46–432. Vienna: A. Holzhausen, 1988.Google Scholar
Roover, F. Edler de. “Early Examples of Marine Insurance.” Journal of Economic History 5 (1945): 172–200.10.1017/S0022050700112975CrossRefGoogle Scholar
Schulze, Winfried. “The Emergence and Consolidation of the ‘Tax State.’” In Economic Systems and State Finance, edited by Bonney, Richard, 261 –279. Oxford: Clarendon, 1995.Google Scholar
Sirago, Maria, and Avallone, Paola. “The Risk of the Sea: Maritime Insurance in Southern Italy from the 17th to the 19th Centuries.” Unpublished paper presented at the XV World Economic History Congress, Utrecht, 2009.Google Scholar
Smith, B. D., and Stutzer, M.. “A Theory of Mutual Formation and Moral Hazard with Evidence from the History of the Insurance Industry.” Review of Financial Studies 8 (1995): 545 –577.10.1093/rfs/8.2.545CrossRefGoogle Scholar
Stadlin, Christofer. “Actuarial Practice, Probabilistic Thinking and Actuarial Science in Private Casualty Insurance.” In The Development of International Insurance, edited by Pearson, Robin, 37–62. London: Pickering & Chatto, 2010.Google Scholar
Sydow, Jörg, Schreyögg, Georg, and Koch, Jochen. “Organizational Path Dependence: Opening the Black Box.” Academy of Management Review 34 (2009): 689–709.Google Scholar
Thomasson, Melissa A. “From Sickness to Health: The Twentieth Century Development of U.S. Health Insurance.” Explorations in Economic History 39 (2002): 233 –253.10.1006/exeh.2002.0788CrossRefGoogle Scholar
Weaver, Carolyn L. “On the Lack of a Political Market for Compulsory Old Age Insurance Prior to the Great Depression: Insights from Economic Theories of Government.” Explorations in Economic History 20 (1983): 294–328.10.1016/0014-4983(83)90036-0CrossRefGoogle Scholar
Westall, Oliver M. “The Invisible Hand Strikes Back: Motor Insurance and the Erosion of Organized Competition in General Insurance 1920–38.” Business History 30 (1988): 423 –450.10.1080/00076798800000078CrossRefGoogle Scholar
Winegarden, C. R., and Murray, John E. “The Contributions of Early Health Insurance Programs to Mortality Declines in Pre-World War I Europe: Evidence from Fixed-Effects Models.” Explorations in Economic History 35 (1998): 431 –446.10.1006/exeh.1998.0707CrossRefGoogle Scholar
Wright, Robert E. “Insuring America: Market, Intermediated and Government Risk Management since 1790.” In Encuentro Internacional Sobre la Historia del Seguro, edited by Caruana, Leonardo, 239 –298. Madrid: Fundaçion Mapfre, 2010.Google Scholar
Zanjani, George. “Regulation, Capital, and the Evolution of Organisational Form in US Life Insurance.” American Economic Review 97 (2007): 973 –983.10.1257/aer.97.3.973CrossRefGoogle Scholar
Arps, Ludwig. Auf Sicheren Pfeilern: Deutsche Versicherungswirtschaft vor 1914. Göttingen: Vandenhoeck & Ruprecht, 1965.Google Scholar
Arthur, W. Brian. Increasing Returns and Path Dependence in the Economy. Ann Arbor: University of Michigan Press, 1994.10.3998/mpub.10029CrossRefGoogle Scholar
Bebel, August. Aus meinem Leben. Berlin: Dietz, 1964.Google Scholar
Bismarck, Otto von. Dokumente seines Lebens. Leipzig: Philipp Reclam, 1986.Google Scholar
Borscheid, Peter. 275 Jahre Feuersozietäten in Westfalen: Vorsprung durch Erfahrung. Münster: Westfälische Provinzial-Versicherungen, 1997.Google Scholar
Brewer, John. The Sinews of Power: War, Money and the English State, 1688–1783. Cambridge, MA: Harvard University Press, 1990.Google Scholar
Clark, Geoffrey. Betting on Lives: The Culture of Life Insurance in England, 1695–1775. Manchester: Manchester University Press, 1999.Google Scholar
Engelberg, Ernst. Bismarck: Das Reich in der Mitte Europas. Berlin: Siedler, 1998.Google Scholar
Froot, Kenneth A. ed. The Financing of Catastrophe Risk. Chicago: University of Chicago Press, 1999.10.7208/chicago/9780226266251.001.0001CrossRefGoogle Scholar
Gesellschaft für Feuerversicherungsgeschichtliche Forschung e.v. Das Deutsche Feuerversicherungswesen. 2 volumes. Hanover: Rechts, Staats und Sozial-wissenschaftlicher, 1913.Google Scholar
Hannah, Leslie. Inventing Retirement: The Development of Occupational Pensions in Britain. Cambridge: Cambridge University Press, 1986.10.1017/CBO9780511720611CrossRefGoogle Scholar
Hansmann, Henry. The Ownership of Enterprise. Cambridge, MA: Belknap Press, 1996.Google Scholar
Hennock, E. P. British Social Reform and German Precedents: The Case of Social Insurance, 1880–1914. Oxford: Clarendon, 1987.Google Scholar
Koselleck, Reinhart. Preussen zwischen Reform und Revolution. Munich: DTV, 1989.Google Scholar
Leonard, A. B., ed., Marine Insurance: Origins and Institutions,1300–1850. Basingstoke: Palgrave Macmillan, 2016.Google Scholar
Lönnborg, Mikael. Internationalisierung av Svenska Försäkringsbolag. Uppsala: Acta Universitatis Upsaliensis, 1999.Google Scholar
Lüdtke, Alf. Police and the State in Prussia 1815–50. Cambridge: Cambridge University Press, 1989.Google Scholar
Macnicol, J. The Politics of Retirement in Britain, 1878–1948. Cambridge: Cambridge University Press, 1998.10.1017/CBO9780511549403CrossRefGoogle Scholar
Mohun, Arwen P. Risk: Negotiating Safety in American Society. Baltimore: Johns Hopkins University Press, 2013.Google Scholar
Pearson, Robin. Insuring the Industrial Revolution: Fire Insurance in Great Britain, 1700–1850. Aldershot: Ashgate, 2004.Google Scholar
Pearson, Robin, and Yoneyama, Takau, eds. Corporate Forms and Organisational Choice in International Insurance. Oxford: Oxford University Press, 2015.10.1093/acprof:oso/9780198739005.001.0001CrossRefGoogle Scholar
Raynes, Harold. A History of British Insurance, London: Sir Isaac Pitman & Sons, 1948.Google Scholar
Supple, Barry. The Royal Exchange Assurance: A History of British Insurance 1720–1970. Cambridge: Cambridge University Press, 1970.Google Scholar
Tebeau, Mark. Eating Smoke: Fire in Urban America, 1800–1950. Baltimore: Johns Hopkins University Press, 2003.Google Scholar
Trebilcock, Clive. Phoenix Assurance and the Development of British Insurance. 2 volumes. Cambridge: Cambridge University Press, 1985, 1998.Google Scholar
Zappino, Jorge S. El Instituto Mixto Argentino de Reaseguros: La Formaçion de un Mercado Naçional de Seguros (1946–1952). Buenos Aires: Ediciones Cooperativas, 2007.Google Scholar
Zwierlein, Cornel. Der gezähmte Prometheus. Feuer und Sicherheit zwischen Früher Neuzeit und Moderne. Göttingen: Vandenhoeck & Ruprecht, 2011.Google Scholar
Bleakley, Hoyt, and Lin, Jeffrey. “History and the Sizes of Cities.” American Economic Review 105 (2015): 558 –563.10.1257/aer.p20151069CrossRefGoogle Scholar
Borscheid, Peter. “Vertrauensgewinn und Vertrauensverlust: Das Auslandsgeschäft der Deutschen Versicherungswirtschaft 1870–1945.” Vierteljahrschrift für Sozial- und Wirtschaftsgeschichte 88 (2001): 311 –345.Google Scholar
Borscheid, Peter. “History of the Insurance Industry in Germany.” In Encuentro Internacional Sobre la Historia del Seguro, edited by Caruana, Leonardo, 43–68. Madrid: Fundaçion Mapfre, 2010.Google Scholar
Brown, Samuel. “On the Progress of Fire Insurance in Great Britain as Compared with Other Countries.” Assurance Magazine 7 (1857–1858).Google Scholar
Büchner, F. “Die Entstehung der Hamburger Feuerkasse und ihre Entwicklung bis zur Mitte des 19. Jahrhunderts.” In 300Jahre Hamburger Feuerkasse, 1–50. Karlsruhe: Hamburger Feuerkasse, 1976.Google Scholar
Cutler, David M., and Gruber, Jonathan. “Does Public Insurance Crowd Out Private Insurance.” Quarterly Journal of Economics 111 (1996): 391–430.10.2307/2946683CrossRefGoogle Scholar
David, Paul A. “Clio and the Economics of QWERTY.” American Economic Review 75 (1985): 332 –337.Google Scholar
De Souza, Bruno Gabriel Witzel. “Immigration and the Path Dependence of Education: The Case of German-Speakers in São Paulo, Brazil (1840–1920).” Economic History Review 71 (2018): 506 –539.10.1111/ehr.12575CrossRefGoogle Scholar
Driel, Hugo van, and Devos, Greta. “Path Dependence in Ports: The Persistence of Cooperative Forms.” Business History Review 81 (2007): 681–708.10.2307/25097420CrossRefGoogle Scholar
Fanfani, Tommaso, “Private Insurance in Italy: A Sector for the Growth of the Nation.” In Encuentro Internacional Sobre la Historia del Seguro, edited by Caruana, Leonardo, 97–140. Madrid: Fundaçion Mapfre, 2010.Google Scholar
Fishback, Price V., and Kantor, Shawn Everett. “The Durable Experiment: State Insurance of Workmen’s Compensation Risk in the Early Twentieth Century.” Journal of Economic History 56 (1996): 809 –836.10.1017/S0022050700017484CrossRefGoogle Scholar
Guinnane, Timothy W., and Streb, Jochen. “Incentives That (Could Have) Saved Lives: Government Regulation of Accident Insurance Associations in Germany, 1884–1914.” Journal of Economic History 75 (2015): 1196–1227.10.1017/S0022050715001618CrossRefGoogle Scholar
Hansmann, Henry. “The Organisation of Insurance Companies: Mutual versus Stock.” Journal of Law, Economics and Organisation 1 (1985):125 –152.Google Scholar
Jitschin, Adrian, “From Economic to Political Reality: Forming a Nationalized Indian Life Assurance Market.” In The Development of International Insurance, ed. Pearson, Robin, 133 –144. London: Pickering and Chatto, 2010.Google Scholar
Jones, W. J. “Elizabethan Marine Insurance: The Judicial Undergrowth.” Business History 2 (1960): 53–66.10.1080/00076796000000001CrossRefGoogle Scholar
Kang, Z. “Assurances Moderne en Chine: Une Continuité Interrompue (1801–1949).” Risques no. 31 (1997): 103 –120.Google Scholar
Kepler, J. S. “The Operating Potential of London Marine Insurance in the 1570s: Some Evidence from ‘A Booke of Orders of Assurances within the Royall Exchange.’” Business History 17 (1975): 44–55.10.1080/00076797500000004CrossRefGoogle Scholar
Kingston, Christopher. “Marine Insurance in Britain and America, 1720–1844: A Comparative Institutional Analysis.” Journal of Economic History 67 (2007): 379–409.10.1017/S0022050707000149CrossRefGoogle Scholar
Kingston, Christopher. “Marine Insurance in Philadelphia during the Quasi-War with France, 1795–1801.” Journal of Economic History 71 (2011): 162 –184.10.1017/S0022050711000064CrossRefGoogle Scholar
Kwon, W. Jean. “History of Insurance, Market Development and Regulation in Seven Least Developed Countries in Asia: Afghanistan, Bangladesh, Bhutan, Cambodia, Laos, Myanmar and Nepal.” Asia-Pacific Journal of Risk and Insurance 5 (2010): 1–39.Google Scholar
Larsson, Mats, and Lönnborg, Mikael. “The History of Insurance Companies in Sweden, 1855–2005.” In Encuentro Internacional Sobre la Historia del Seguro, edited by Caruana, Leonardo, 197–237. Madrid: Fundaçion Mapfre, 2010.Google Scholar
Liebowitz, S. J., and Margolis, Stephen E.. “Path Dependence, Lock-in, and History.” Journal of Law, Economics and Organization 11 (1995): 205 –226.Google Scholar
Libecap, Gary D. “Institutional Path Dependence in Climate Adaptation: Conan’s ‘Some Unsettled Problems of Irrigation.’” American Economic Review 101 (2011): 64–80.10.1257/aer.101.1.64CrossRefGoogle Scholar
Mesa-Lago, Carmelo. “History of Social Security in Latin America.” In Encuentro Internacional Sobre la Historia del Seguro, edited by Caruana, Leonardo, 309 –347. Madrid: Fundaçion Mapfre, 2010.Google Scholar
Murray, John E., and Nilsson, Lars, “Accident Risk Compensation in Late Imperial Austria: Wage Differentials and Social Insurance.” Explorations in Economic History 44 (2007): 568 –587.10.1016/j.eeh.2007.02.001CrossRefGoogle Scholar
Pearson, Robin. “Who Pays for Pensions? Das Problem der Alterssicherung in Grossbritannien im Zwanzigsten Jahrhundert.” Zeitschrift für Unternehmensgeschichte 48 (2003): 48–57.10.1515/zug-2003-0105CrossRefGoogle Scholar
Pearson, Robin. “Lloyd’s of London.” In History of World Trade since 1450, edited by McCusker, John J., 2: 466 –469. Farmington Hills, MI: Macmillan Reference, 2006.Google Scholar
Reeves, W. P. “State Insurance in New Zealand.” North American Review 182 (1906): 62–73.Google Scholar
Rohrbach, Wolfgang. “Von den Anfängen bis zum Börsenkrach des Jahres 1873.” In Versicherungsgeschichte Österreichs, edited by Rohrbach, W., 1: 46–432. Vienna: A. Holzhausen, 1988.Google Scholar
Roover, F. Edler de. “Early Examples of Marine Insurance.” Journal of Economic History 5 (1945): 172–200.10.1017/S0022050700112975CrossRefGoogle Scholar
Schulze, Winfried. “The Emergence and Consolidation of the ‘Tax State.’” In Economic Systems and State Finance, edited by Bonney, Richard, 261 –279. Oxford: Clarendon, 1995.Google Scholar
Sirago, Maria, and Avallone, Paola. “The Risk of the Sea: Maritime Insurance in Southern Italy from the 17th to the 19th Centuries.” Unpublished paper presented at the XV World Economic History Congress, Utrecht, 2009.Google Scholar
Smith, B. D., and Stutzer, M.. “A Theory of Mutual Formation and Moral Hazard with Evidence from the History of the Insurance Industry.” Review of Financial Studies 8 (1995): 545 –577.10.1093/rfs/8.2.545CrossRefGoogle Scholar
Stadlin, Christofer. “Actuarial Practice, Probabilistic Thinking and Actuarial Science in Private Casualty Insurance.” In The Development of International Insurance, edited by Pearson, Robin, 37–62. London: Pickering & Chatto, 2010.Google Scholar
Sydow, Jörg, Schreyögg, Georg, and Koch, Jochen. “Organizational Path Dependence: Opening the Black Box.” Academy of Management Review 34 (2009): 689–709.Google Scholar
Thomasson, Melissa A. “From Sickness to Health: The Twentieth Century Development of U.S. Health Insurance.” Explorations in Economic History 39 (2002): 233 –253.10.1006/exeh.2002.0788CrossRefGoogle Scholar
Weaver, Carolyn L. “On the Lack of a Political Market for Compulsory Old Age Insurance Prior to the Great Depression: Insights from Economic Theories of Government.” Explorations in Economic History 20 (1983): 294–328.10.1016/0014-4983(83)90036-0CrossRefGoogle Scholar
Westall, Oliver M. “The Invisible Hand Strikes Back: Motor Insurance and the Erosion of Organized Competition in General Insurance 1920–38.” Business History 30 (1988): 423 –450.10.1080/00076798800000078CrossRefGoogle Scholar
Winegarden, C. R., and Murray, John E. “The Contributions of Early Health Insurance Programs to Mortality Declines in Pre-World War I Europe: Evidence from Fixed-Effects Models.” Explorations in Economic History 35 (1998): 431 –446.10.1006/exeh.1998.0707CrossRefGoogle Scholar
Wright, Robert E. “Insuring America: Market, Intermediated and Government Risk Management since 1790.” In Encuentro Internacional Sobre la Historia del Seguro, edited by Caruana, Leonardo, 239 –298. Madrid: Fundaçion Mapfre, 2010.Google Scholar
Zanjani, George. “Regulation, Capital, and the Evolution of Organisational Form in US Life Insurance.” American Economic Review 97 (2007): 973 –983.10.1257/aer.97.3.973CrossRefGoogle Scholar