what is marine insurance 
one of the oldest forms of insurance marine insurance can cover ships their cargoes and related risks the hull of the titanic for example was insured for a total of 1 million with multiple lloyd s syndicates taking on portions of the policy 6the bottom linelloyd s of london commonly known as lloyd s is a major marketplace for insurance and reinsurance while not an insurer itself it provides a venue for insurance buyers and its member sellers known as syndicates to do business 