During the late eighteenth and early nineteenth centuries, mutual associations predominated in insuring the large fleet of ships that carried coal from Britain's northeast to London and other ports. The number of associations grew rapidly from the late 1770s, initially on the Tyne, then spreading to other ports on the east coast. They largely saw off the challenge from joint-stock companies created after the liberalisation of the marine insurance market in 1824. Low administrative and legal costs and the ability to mobilise local knowledge to minimise risks allowed the associations to offset the disadvantage of insuring vessels in the same trade facing similar adversities. This article discusses how mutual associations were organised and operated, traces their development on the Tyne and the competition they encountered there from Lloyd's of London and joint-stock insurance companies, and examines the incidence of mutual associations elsewhere in Britain.

The statistical accuracy of Historical Foreign Trade Sources has been stated by Federico and Tena (1991) and Tena (1985, 19991 y 1992). This article follows his works in the most suspect field: geographical distribution. We have use Latin American Coal Trade Data among 1908–1930. Most international trade, considering weight, was coal trade; meanwhile it is an ideal product to isolate geographical effects. Statistical disagreements persistence makes us to think this is not a random phenomenon. We have specified an econometric model based on distance. Results show that including geography we can understand statistical disagreements. As a consequence Latin American Sources appear reasonably accurate, considering its geographical pattern.