The insured losses of the Francis Scott Key bridge disaster total between $2 billion and $4 billion
Chubb , the insurer of Baltimore ’s Francis Scott Key Bridge , is reportedly preparing to make a $350 million payout to Maryland a little more than a month after it collapsed. It would be the first large payout in the potentially years-long debate over who has to pay for the bridge’s collapse. Morningstar DRBS expects insured losses to total between $2 billion and $4 billion, exceeding the $1.5 billion loss incurred by the wreck of the Costa Concordia in 2012.
” A representative for Chubb did not immediately respond to a request for comment. Chubb is also expected to support Maryland in suing the owner and operator of the DALi to try and recover losses, The Journal reports. Grace Ocean Private, the owner of the DALI, and the ship’s operator, Synergy Marine Group, have filed a petition to cap damages they may be on the hook for at $43.6 million. If that petition is approved, the estimated total insured loss would significantly decrease.
Disaster Accident Wall Street Journal Maersk Interstate 95 WTW Dundalk Maryland Port Of Baltimore Dali City Henry Daar Hawkins Point Baltimore Sparrows Point Maryland Synergy Marine Group Cargo Ship The U.S. Army Corps Of Engineers Insurance Chubb Francis Scott Key Bridge MV Dali Gizmodo
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