Insurer Chubb Prepares to Pay $350M in Baltimore Bridge Collapse
The payment is expected to be authorized within weeks, the report said, citing a statement from Henry Daar, head of property claims North America for WTW, the bridge’s broker.
The $350-million payout could be the first of many related to the disaster that analysts have said might cost insurers up to $4 billion, making it a record shipping insurance loss.
The tragedy that killed six people occurred after a Singapore-flagged container ship collided with the landmark bridge.
Chubb, along with Maryland and the families of the victims of the crash, will likely sue the ship owner and others to recoup losses from the crash, according to the WSJ report.
Chubb and WTW did not immediately respond to Reuters requests for comment.
(Reporting by Nishant in Bengaluru; Editing by Shinjini Ganguli)
- Average U.S. Vehicle Age Approaching 13 Years, New Report Shows
- Survey Shows Distracted Drivers Overconfident: 20% Text While Driving, 15% Use Social Media
- Audi Q6, Three Other Vehicles Earn IIHS 2025 Safety Awards
- Merck Faces Patent Lawsuit Over Easier-to-Use Keytruda
- Insurance Industry Contemplates Knock-On Effect of Tariffs to Claims, Consumers
- How A Long-Lived Super-Regional Carrier is Implementing AI in Claims
- What Chief Claims Officers Can Do About a Growing Trend of Alleged Bad Faith Claims
- Roof Repair and Replacement Costs up Nearly 30% Since 2022, Report Shows