The collapse of the Baltimore Bridge is expected to result in one of the largest marine insurance payouts in history, potentially totaling $4 billion. Insurers, including Britannia and the International Group of P&I Clubs, are preparing for record losses, with Britannia liable for the first $10 million. The incident is anticipated to trigger a significant and complex claims process involving multiple parties.
Baltimore Bridge Collapse May Trigger 'Historic' Marine Insurance Loss https://t.co/t0hKpSfBGG The complexity of lining up all the claimants and all those insuring/responsible will be a spectacular undertaking. May take years, with a lot of internal fights.
Marine insurers face billion-dollar payout on Baltimore bridge collapse "Britannia itself will only be on the hook for a small slice of claim, namely the first $10m. The layer from $10m to $100m will be shared with the other 11 affiliates of the International Group of P&I Clubsβ¦
Francis Scott Key Bridge collapse could total $4B in 'largest marine insurance loss ever' https://t.co/fLxBGvJFOs via @nypost
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NEW - Baltimore bridge collapse may see biggest marine insurance payout: report https://t.co/DTxMwYKDAc
US Bridge Collapse May See Biggest Marine Insurance Payout: Report https://t.co/zB8iP9L2ys https://t.co/eYaM5JGLIU
#BaltimoreBridgeCollapse may see biggest marine insurance payout: Report https://t.co/Rim5h40pnT
Baltimore Bridge expected to trigger "one of the largest marine losses in history", says Lloyd's of London. https://t.co/5c5UE2rRJA
Insurers brace for record payouts from Baltimore bridge disaster https://t.co/q1Us0Vm0GM via @splash_247