Protecting from risk and need. Crypto-insurance forms in medieval italian guilds and confraternities

Abstract

The contribution aims to trace crypto‐insurance forms in the medieval Italian guilds and confraternities, apt to protect citizens and workers from the economic and biological unknowns of life. During the Middle Ages, in fact, belonging to a guild meant to be protected from various risks. Guild members received help in cases of infirmity and accident and obtained cash benefits, medical‐pharmaceutical assistance and hospitalisation. They were protected against the financial risks of unemployment and old age. Furthermore, they could receive compensation for work‐related damages. Guilds took care of the body and the soul of deceased members. Finally, guild members may have been helped in extreme cases of deprivation of liberty: guilds may have paid ransom to pirates as well as bandits, and they may have helped in cases of economic and political imprisonment. If, in most cases, guild members did not acquire a legally enforceable right to help, but simply developed a reasonable expectation of receiving it, there are examples of the separation of funds intended to finance the support and assistance mechanisms in the event of illness, accident or death. These funds came from entrance fees, annual subscriptions, donations, fines, investments in property and land as well as from other financial activities.