Chubb, the insurer of the collapsed Francis Scott Key Bridge in Baltimore, is preparing to make a $350 million payout to Maryland, paying the full amount of the coverage quickly rather than waiting for the rebuilding to begin.
Tag: Francis Scott Key bridge
Who’s Paying for the Francis Scott Key Bridge Disaster?
Economic losses have been increasing since a cargo ship lost power and collided with a huge bridge in Baltimore last week, causing it to collapse and kill six people.
Insurers Could Face Losses of Up to $4B after Baltimore Bridge Tragedy
Baltimore’s Francis Scott Key Bridge collapse could cost insurers billions of dollars in claims, analysts say, with one putting it at as much as $4 billion, which would make the tragedy a record shipping insurance loss.
Lawyers Gear Up for Swift Start in Legal Fight Over Baltimore Bridge
The first shot in the legal fight over who will pay for the damage and loss from the collapse of the Francis Scott Key Bridge will likely occur in the next few days in a Baltimore courtroom, insurance academics said.