The collapse of the bridge in Baltimore after the DALI ship collided with its pylon is not only raising safety issues, but also creating financial problems, as insurance claims are expected to break records. The chairman of the insurance giant Lloyd's of London, Bruce Carnegie-Brown, which helps insurers that cannot meet the costs, stressed that in this particular case they would have to dig very deep into their pockets. “We are starting to develop resources in anticipation that there will be significant demands. And for Lloyd's it will take some time to unravel the complexities of the situation,” he told CNBC. “It is too early to talk with numbers. But I feel this is a very significant loss, possibly the largest marine insurance loss of all time,” he said. Then, he emphasized that the biggest insurance problem concerns the “secondary effects” from the collapse of the bridge, i.e. the rest of the business activities that are affected. “A lot of business will stop, supply chains will be disrupted by ships that […]
Source: News Beast
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