The bridge collapsed on Tuesday after being struck by a container ship.
Insurance payouts for Tuesday’s collapse of the Francis Scott Key Bridge in Baltimore could be among the largest ever in marine insurance, according to Lloyd’s of London Chief Executive Officer John Neal. “This has the potential to be one of the largest marine losses in history,” Neal said in an interview with Bloomberg News on Thursday. “It’s a multi-billion dollar loss. I think it has to be but I think it is a little too early to say what you actually think it’s going to cost.
Insurance claims for damage to the bridge alone could reach $1.2 billion, Barclays said in its note, predicting further potential liabilities of $350 million to $700 million for wrongful deaths and yet-to-be-determined amounts for business interruptions while access to the city’s port is blocked.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Companies react to Baltimore bridge collapse - SABC News - Breaking news, special reports, world, business,Companies react to Baltimore bridge collapse
Read more »
Baltimore bridge response shifts to recovery of six missingBaltimore authorities ramp up recovery efforts after cargo ship collision collapses bridge, leaving six presumed dead. Families seek closure.
Read more »
'Hard-working, humble men': Authorities recover 2 bodies after Baltimore bridge collapse'Hard-working, humble men': Authorities recover 2 bodies after Baltimore bridge collapse
Read more »
Baltimore Union fears loss of 2 400 jobs on bridge collapse'Getting them on the payroll, and keeping their families fed, putting food on the table is my first and foremost thought on my mind.' Scott Cowan, president of the labour union’s Baltimore local, said.
Read more »
Baltimore bridge collapse sparks baseless attack theoriesConspiracy theorists said Tuesday that the Baltimore bridge collapse resulted from an intentional attack -- despite officials quickly saying there was no evidence of foul play. Moore added that officials had not seen 'any credible evidence of a terrorist attack.
Read more »
Baltimore's biggest bridge collapses after being hit by cargo shipA major bridge in the US city of Baltimore collapsed on Tuesday after a large cargo ship collided with it. The collision caused the bridge to crash into the river below, bringing several people in vehicles with it.
Read more »