Finance
London Insurers Face Baltimore Bridge Payouts Worth Billions
- Claims seen between $1 billion and $3 billion: Barclays
- Lloyd’s of London marine insurers seen as most exposed
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Insurers face claims of as much as $3 billion following Tuesday’s collapse of the Francis Scott Key Bridge in Baltimore, with firms on the Lloyd’s of London market most exposed, Barclays Plc analysts said.
Insurance claims for damage to the bridge alone could reach $1.2 billion, the bank said in a note, predicting further potential liabilities of $350 million to $700 million for wrongful deaths and yet-to-be-determined amounts for business interruptions while access to the city’s port is blocked.