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Baltimore Bridge Collapse Expected to Result in Record Insurance Payouts

The disaster at Baltimore's Key Bridge, which killed six workers and disrupted major supply chains, prompts federal funding pledge and debates over liability.

Part of the steel frame of the Francis Scott Key Bridge sits on top of the container ship Dali after the bridge collapsed in Baltimore, Maryland, on March 26, 2024.
Wreckage from the Francis Scott Key Bridge rests on the Dali cargo ship in Baltimore, Maryland, on Friday. Photo: AFP

Overview

  • The Francis Scott Key Bridge in Baltimore collapsed after being struck by the Dali cargo ship, leading to the deaths of six construction workers and causing extensive damage.
  • The collapse is expected to result in billions of dollars in insurance claims, potentially making it the largest marine insurance payout in history.
  • The port of Baltimore, now closed, is a crucial hub for the U.S. economy, significantly impacting national and regional supply chains.
  • President Biden has pledged federal funding for the bridge's reconstruction, while debates continue over the financial responsibility of the involved parties.
  • Legal battles over compensation and liability are anticipated, with various stakeholders affected by the disaster.