2024-03-29 01:31:22
On the 26th (local time), the Francis Scott Key Bridge across the Patapsco River in Baltimore, Maryland is destroyed after colliding with the cargo container ship Dali. 2024.3. 27 © AFP=News1 © News1 Reporter Woo Dong-myeong
The chairman of Lloyd’s, a British insurance company, said in an interview on the 28th (local time) that the largest ever marine insurance payment is likely to be made for the collapse of the Francis Scott Key Bridge in Baltimore, USA.
“It feels like a very significant loss, potentially the largest ever marine insurance loss,” Lloyd’s Chairman Bruce Carnegie-Brown told CNBC, according to AFP. “We started deploying resources in anticipation that there would actually be these marine insurance claims,” he said.
Carnegie-Brown said there would be claims for damaged ships, cargo and bridges, but what was real were the “second-order impacts”. “A lot of businesses will be disrupted,” he said, adding that supply chains will be disrupted by ships stuck in ports and ships trying to access them.
This accident resulted in casualties of six deaths, and the loaded container cargo, ship, and bridge became unusable. This also means that there may be damage caused by paralysis of port functions as secondary damage.
Chairman Carnegie-Brown added, “I think it will take some time for these secondary effects to be resolved.” He did not give exact figures, but said he would be “very surprised” if it did not cost insurers billions of pounds. In other words, an insurance payment in the trillions was expected.
Reuters previously reported on the 27th, citing Morningstar analysts, that the largest ever insurance claim of up to $4 billion (approximately 5.4 trillion won) could occur. This is a level that surpasses the Costa Concordia luxury cruise ship accident in 2012, which was the largest accident in history.
According to the Guardian, Barclays analysts estimate that insurers could face a $3 billion bill, with Lloyds, the world’s largest insurer, the most exposed.
According to AFP, many experts are concerned about a chain of economic ramifications as shipping operations at the Baltimore Port are halted. Baltimore is the nation’s largest port for handling vehicles, including automobiles and heavy equipment, according to Transportation Secretary Pete Buttigieg. Approximately 100 to 200 million dollars worth of goods come through the port every day.
Maryland Governor Wes Moore warned that in addition to the thousands of port workers, more than 140,000 people could be indirectly affected by the disruption.
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