Baltimore Bridge Collapse Leads To Projected Record-Breaking Insurance Loss

Source: International Business Times

The collapse of the Francis Scott Key Bridge in Baltimore has sent shockwaves through the insurance industry, with experts predicting it to result in the largest single marine insurance loss in history. The tragic incident, which claimed at least two lives and left four others missing and presumed dead, has not only disrupted shipping lanes but also forced the indefinite closure of the Port of Baltimore, a crucial hub on the US East Coast. AFP Bruce Carnegie-Brown, Chair of Lloyd's of London, expressed his expectation of multibillion-pound losses for insurers in the wake of the disaster.