Finding, sharing and risk of loss: of whales, bees, and other valuable finds in Iceland, Denmark, and Norway

TY - JOUR

T1 - Finding, sharing and risk of loss:

T2 - of whales, bees, and other valuable finds in Iceland, Denmark, and Norway

AU - Vogt, Helle

AU - Miller, William Ian

PY - 2015/6

Y1 - 2015/6

N2 - The focus of the paper is twofold: the first part is about how property rights were assigned and ranked in finds, both in those items such as bees, rings and other valuables which were previously owned, and also in those things, like whales, which were unowned. We focus on Icelandic, Danish and Norwegian laws from the twelfth and thirteenth centuries, yet most of the provisions were copied into later laws and were in force up until modern times, some even current now. The second part treats the question of how risks of loss were handled, and how simple forms of insurance-like institutions arose, aggressively, to encourage risk spreading and overall risk lowering by sharing. The Icelandic laws, especially, show a rather remarkable sophistication regarding risk sharing. They were very alert to the kinds of strategies of avoidance people might employ to evade the rules.

AB - The focus of the paper is twofold: the first part is about how property rights were assigned and ranked in finds, both in those items such as bees, rings and other valuables which were previously owned, and also in those things, like whales, which were unowned. We focus on Icelandic, Danish and Norwegian laws from the twelfth and thirteenth centuries, yet most of the provisions were copied into later laws and were in force up until modern times, some even current now. The second part treats the question of how risks of loss were handled, and how simple forms of insurance-like institutions arose, aggressively, to encourage risk spreading and overall risk lowering by sharing. The Icelandic laws, especially, show a rather remarkable sophistication regarding risk sharing. They were very alert to the kinds of strategies of avoidance people might employ to evade the rules.

U2 - 10.1080/2049677x.2015.1041724

DO - 10.1080/2049677x.2015.1041724

M3 - Journal article

SN - 2049-677X

VL - 3

SP - 38

EP - 59

JO - Comparative Legal History

JF - Comparative Legal History

IS - 1

ER -