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Insurers could face losses of up to $4 billion after Baltimore bridge tragedy, analyst says

Posted on AllSides March 28th, 2024
From The Center

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.

Six people are still missing after a collision with a Singapore-flagged container ship destroyed the landmark bridge on Tuesday, forcing the closure of one of the busiest U.S. ports.

With little clarity on when the Port of Baltimore would re-open, insurers and analysts are now assessing the likely losses borne by underwriters across several...

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