{"id":5986,"date":"2024-03-29T06:00:30","date_gmt":"2024-03-29T04:00:30","guid":{"rendered":"https:\/\/ch.jfdi.cc\/?p=5986"},"modified":"2024-03-29T06:00:30","modified_gmt":"2024-03-29T04:00:30","slug":"baltimore-bridge-collapse-likely-to-result-in-multibillion-dollar-insurance-claims","status":"publish","type":"post","link":"https:\/\/ch.jfdi.cc\/?p=5986","title":{"rendered":"Baltimore bridge collapse likely to result in multibillion-dollar insurance claims"},"content":{"rendered":"<div><img decoding=\"async\" src=\"http:\/\/ch.jfdi.cc\/wp-content\/uploads\/2024\/03\/baltimore-bridge-collapse-likely-to-result-in-multibillion-dollar-insurance-claims.jpg\" class=\"ff-og-image-inserted\"><\/div>\n<p>The collapse of Baltimore\u2019s Francis Scott Key Bridge is likely to lead to a multi-billion dollar insurance loss, the chairperson of commercial insurance market Lloyd\u2019s of London (SOLYD.UL) said on Thursday.<\/p>\n<div class=\"cypru-video-ads\" id=\"cypru-123412249\">\n<div id=\"cypru-1035717136\" data-cypru-trackid=\"478051\" data-cypru-trackbid=\"1\" class=\"cypru-target\">\n<div id=\"gpt-ad-8143132318069-0\">\n<\/div>\n<\/div>\n<\/div>\n<p>The massive Singapore-flagged container ship Dali sailing out of Baltimore Harbor bound for Sri Lanka reported losing power and the ability to maneuver before plowing into a support pylon of the bridge on Tuesday.<br \/>\nThe impact brought most of the bridge tumbling into the mouth of the Patapsco River, blocking shipping lanes and forcing the indefinite closure of the Port of Baltimore, one of the busiest on the US Eastern Seaboard.<br \/>\nThe tragedy could lead to up to $4 billion in insurance claims, Morningstar DBRS said.<br \/>\nIt was too soon to put a figure on the total insurance loss, Bruce Carnegie-Brown told Reuters, but he said he would be \u201cvery surprised\u201d if the event did not result in a multi-billion dollar loss, adding that \u201cthe tragedy has the capacity to become the largest single marine insurance loss ever\u201d.<br \/>\nThe previous record marine loss was from the Costa Concordia luxury cruise liner disaster in 2012.<br \/>\nLloyd\u2019s, which has more than 50 member firms, is active in the marine and property insurance markets, which are expected to face large claims from the damage to the bridge and the disruption at the port.<br \/>\nLloyd\u2019s had gross written premiums in 2022 of more than 6 billion pounds ($7.5 billion) in marine, aviation and transport insurance and reinsurance. North America is its largest market.<br \/>\nCarnegie-Brown also said the insurer has set aside 1.6 billion pounds ($2 billion) in reserves in the past two years for disputed aviation claims over planes stuck in Russia following its invasion of Ukraine.<br \/>\nTalks between aviation leasing companies and insurers to reach settlements over the multi-billion dollar claims were at a \u201creasonably advanced stage\u201d, Carnegie-Brown said, ahead of major court cases in Dublin and London due to take place this year.<br \/>\nLloyd\u2019s reported a 2023 pre-tax profit of 10.7 billion pounds ($13.49 billion) earlier on Thursday, boosted by strong underwriting and investment performance.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The collapse of Baltimore&#8217;s Francis Scott Key Bridge is likely to lead to a multi-billion dollar insurance loss, with estimates suggesting up to  billion in insurance claims.<\/p>\n","protected":false},"author":3,"featured_media":5987,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[3676,3445,33,932,3,2464,2083,260,250,3330,4037,2753,450,34,3371,3331,3138,1220,3642,1004,2247,284,3839,19,3349,124,796,4038,1358,1026,1065,17,380],"class_list":["post-5986","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-other","tag-baltimore","tag-bridge-collapse","tag-companies","tag-court","tag-cyprus","tag-damage","tag-disruption","tag-dollar","tag-google","tag-google-news","tag-insurance-loss","tag-investment","tag-london","tag-markets","tag-morningstar-dbrs","tag-news","tag-performance","tag-port","tag-port-of-baltimore","tag-power","tag-profit","tag-property","tag-river","tag-russia","tag-sailing","tag-ship","tag-shipping","tag-shipping-disruption","tag-support","tag-talks","tag-tax","tag-ukraine","tag-us"],"acf":{"keyphrase":"","keywords":"","sourceimg":"","country-category":""},"yoast_head":"<!-- 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