Boston Marine Insurance Co - circa 1880's Unissued Shipping Stock Certificate
Inv# GS1059 Stock
Insurance Stock. Beautiful harborside vignette of ships. Unissued. Nice!!! Rare!!!
The Boston Marine Insurance Company, established in 1797 and officially incorporated in 1799, played a pioneering role in American insurance. During a transition from private underwriting by wealthy individuals to corporate structures, the company specialized in insuring ship cargos for both foreign and domestic trade. Its early operations were so significant that they led to landmark legal precedents, such as the 1804 Supreme Court case Graves and Barnewall v. Boston Marine Insurance Company. The company’s extensive historical records, including 65 volumes of financial and policy data spanning from 1797 to 1839, are currently preserved by the Massachusetts Historical Society.
In recent history, the legacy of specialized marine coverage in the region has been carried forward by Boston Marine Insurance Services, LLC. This agency, with over 65 years of experience, has been instrumental in the commercial and recreational maritime sectors. Boston Marine Insurance Services focuses on both ocean marine and inland marine insurance, serving a diverse clientele that includes maritime museums and commercial fleets. In December 2020, the agency was acquired by Cross Insurance, a prominent regional brokerage. This acquisition integrated the agency’s niche expertise into a larger family of insurance providers while maintaining its commitment to the Massachusetts maritime community.
A stock certificate is issued by businesses, usually companies. A stock is part of the permanent finance of a business. Normally, they are never repaid, and the investor can recover his/her money only by selling to another investor. Most stocks, or also called shares, earn dividends, at the business's discretion, depending on how well it has traded. A stockholder or shareholder is a part-owner of the business that issued the stock certificates.
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