As I may have mentioned, I am in the midst of getting Lunacy ready for a run down to the W'Indies. This is always a fraught process, what with the normal anxieties of worrying about whether the boat is truly ready to go offshore, putting together crew, and watching the unruly fall weather unfold. Historically for me this anxiety has always been compounded by my fussy insurance company, ACE, which insists on vetting my crews and making me fill out lots of forms before they'll give me an endorsement for a passage to the Caribbean.
Marine insurance, of course, is how the whole concept of insurance first got started. Hedging against the potential loss of a vessel and its cargo is a financial game that dates as far back as the ancient Greeks and Romans and was institutionalized in its modern form as early as the late 17th century in Edward Lloyd's famous coffee house in London (see image up top), where shipowners, merchants, and skippers all gathered together to mull over the perils of ocean-borne commerce while getting hopped up on caffeine. As such, it is fair to say that marine insurance has played a very important role in the development of our global economy, but in the context of recreational bluewater cruising it is another animal entirely.