The volume is divided into five parts. The first one—Why and How Risk is Shared—starts with Maria Fusaro’s introduction and analytical description of the concept of General Average [GA] at large, highlighting some of its peculiarities and importance regarding both its historical development and future policy. This is followed by essays by Ron Harris and Giovanni Ceccarelli that, from t…
This open access book explores the history of risk management in medieval and early modern European maritime business, focusing particularly on 'General Average' – a mechanism by which extraordinary expenses regarding ship or cargo, incurred during a voyage to save the venture, are shared between all participants to protect equity. This volume traces the history of this risk management tool f…