Baltimore bridge collapse: Compensation may run into billions, say industry watchers

THE collapse of a major bridge in the US city of Baltimore on Tuesday (Mar 26) that left six workers to be presumed dead could involve “sizeable” compensation, given the extent of the damage to the infrastructure, its surrounding area and any loss of life, said experts.

While it may still be too early to provide an estimate, Allianz Commercial’s global head of marine risk consulting Rahul Khanna told The Business Times that the compensation for the significant losses could be sizeable.

Insurers may also have to compensate other potential losses from blocked port access and cargo loss to any environmental implications, on top of the loss of lives, he added.

He was responding to BT’s queries on potential damages arising from the Singapore-flagged containership Dali’s collision into Francis Scott Key Bridge in Baltimore, …