Marine cargo insurance has a rich history and there is evidence to show it goes back as far as Greek and Roman times. Contracts were also developed in northern Italy and Genoa to protect against piracy and poor seasonal weather.
The Lloyd’s Coffee House, which was set up in 1680, was where sea-faring folk went to get the latest shipping news. It soon evolved into the first marine insurance market morphing into what we all know as Lloyd’s of London.
And the market now is huge. Statis
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