Salty Dog Talk (12 page)
Authors: Bill Beavis
Wreck
An insurance term meaning a total loss and that the item, or group of items could be ‘written off’ the insurance policy. Insurance is a business which began at sea as a gamble between Mediterranean bankers and merchants. The banker would suggest that a particular shipment would arrive safely and stake money to this effect. The merchant, or shipper, in effect claimed that it would not and was also prepared to put up a sum of money to back his belief. This later became the premium.
Published by Adlard Coles Nautical
an imprint of Bloomsbury Publishing Plc
50 Bedford Square, London WC1B 3DP
Copyright © Bill Beavis 1991
First published by Adlard Coles 1983
Reprinted 1985, 1987
Reprinted by Adlard Coles Nautical 1991, 1992, 1995, 1998, 2000
Reissued 2002
Reprinted 2004
Reissued 2007
Print ISBN 978-0-7136-8749-1
ePub ISBN 978-1-4729-0147-7
ePDF ISBN 978-1-4081-0768-3
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