to which merchant ships should be built and maintained. These rules set the standards
and the society policed them through their network of Ships Surveyors.
Other classification societies were set up in the nineteenth century. The American
Bureau of Shipping (ABS) has its origins in the American Ship Masters Association
which was organized in 1860 and incorporated in 1862 through an Act of
Legislature of the State of New York. Like LR it is a non-profit making organization
with general management vested in the membership comprising individuals
prominent in the marine and off-shore industries and related fields. Most were
non-profit making organizations managed by Boards drawn from all parts of the
maritime industry—ship builders, shipowners, insurers, etc. Although underwriters
still participate in general management through membership of these boards, the
classification societies can no longer be seen as acting exclusively for the insurers.