Disputes over liability and the cost of claims could take years for insurers to resolve and result in billions of dollars in payouts.
On the day the Francis Scott Key Bridge in Baltimore collapsed, President Biden said the federal government would pay the “entire cost” of rebuilding it, which some suggest could run to more than $1 billion. Washington will foot the bill so the bridge and nearby port can reopen “as soon as humanly possible,” he said.
The hope is that much of the cost will be recouped from insurers, but determining who is ultimately on the hook for the deadly disaster is set to become one of the messiest and most expensive disputes of its kind. Rebuilding the bridge, repairing the cargo ship that hit it and compensating companies for the disruption at one of the nation’s busiest ports may take years to resolve.
To continue reading, visit: The New York Times: Who Will Pay for the Baltimore Bridge Collapse?
