Question

How many ships were insured from Hawaii to Central America by Philip II?

• A. 2
• B. 3
• C. 4
• D. 5

Hint:

Early marine insurance set the foundation for modern risk management in global trade.

Answer 1

The Correct Option is C

Philip II of Spain is historically known for using marine insurance to protect ships transporting valuable cargo.
Marine insurance is one of the oldest forms of insurance, developed to cover risks during sea voyages.
According to historical records, Philip II insured four ships that sailed from Hawaii to Central America.
This was a significant development because it showed early use of risk management in trade and shipping.
This practice protected merchants and the crown from massive losses due to piracy, shipwreck, or other perils at sea.
So, the correct answer is 4.