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March 29, 2024 at 8:45 pm

Baltimore Bridge Collapse May See Biggest Marine Insurance Payout in History…

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by AFP News Staff at AFP

The collapse of a major Baltimore bridge after a cargo ship smashed into it could bring about the largest marine insurance payout ever, the boss of insurance giant Lloyd’s of London said in an interview Thursday.

“It feels like a very substantial loss, potentially the largest-ever marine insured loss, but not outside parameters that we plan for,” chairman Bruce Carnegie-Brown told CNBC.

“We’re beginning to deploy resources in anticipation of this being a very substantial claim for the industry,” he added.

Six of an eight-man construction crew are believed to have been killed in the incident, which took place in the early hours of Tuesday.

Six of an eight-man construction crew are believed to have been killed in the incident, which took place in the early hours of Tuesday.

With vessel traffic at the Port of Baltimore suspended after the accident,…

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