Around the 13th Century, Lombardy of Northern Italy emerged as a flourishing center for trade. The early practice of Insurance of ships is called marine Insurance and is associated with the merchants of the cities of Lombardy. The Lombard’s also established themselves in London and other cities. When the Germans conquered and devastated the cities of Northern Italy, many of the mercantile families of Lombardy migrated to the more favored and settled countries where they would be more secure and free to practice their trade. Many of them went to London. Wherever they went the Lombard’s took with them the practices of marine Insurance, banking and money lending. The earliest known policy issued in London was inscribed in Italian and was dated 20th Sept. 1547. The policy written in English dated 1555 was known to be on the ship “Santa Crux” from any part of the Isles of India of Calicut to Lisbon. In contrast to the Jews who demanded very high rates of interest for their loans, the
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