The collapse of a bridge in Baltimorein the United States, after a cargo ship collided with the structure, could result in the largest marine insurance payout ever recorded, said the president of British insurer Lloyd’s of London this Thursday, 28.
“It is being perceived as a very substantial loss, potentially the largest marine loss ever insured, although not outside the parameters we planned,” the company’s chief executive, Bruce Carnegie-Brown, told US broadcaster CNBC.
“We are starting to mobilize resources anticipating that it will be a very substantial ask for the industry,” he added.
Six workers are presumed dead in the incident on the Francis Scott Key Bridge, which occurred in the early hours of Tuesday.
The disruption to ship traffic at the Port of Baltimore could cause cascading economic effects, particularly at the local level, experts warn.
Baltimore is the largest vehicle handling port in the country. Cars and heavy agricultural equipment are transported there, according to Transportation Secretary Pete Buttigieg.
Every day, goods worth between 100 and 200 million dollars (around 500 million to 1 billion reais) pass through the port.
Carnegie-Brown told CNBC that there would also be claims for the ship, cargo and bridge, but it is the “second degree impacts” that would become substantial and “will take some time to resolve.”
A U.S. government working group assessing supply chain disruptions met Wednesday to discuss potential impacts on regional and national supply chains following the bridge collapse, according to a White House statement.
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