Sklavenkasse
The term Sklavenkasse (slave fund) was a travel and ransom insurance scheme designated to pay ransom for European seafarers who had been captured by Barbary Pirates in the Mediterranean and off the coasts of Western Europe and sold into the Barbary slave trade. Several North German free imperial cities set up their own slave funds which existed until the mid 19th century.
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The earliest slave funds were created in the 17th century by members of the Hanseatic League.[citation needed] In 1725, seafarers and shipowners in neighbouring Denmark-Norway had to make compulsory contributions to a ransom insurance.[1] The individual premiums were based on the seamen's rank and income.