Key Bridge collapse could be largest-ever financial maritime loss

The deadly collapse of Baltimore’s Francis Scott Key Bridge could rival or beat the maritime industry’s largest-ever financial loss, with insurance claims expected to reach $1 billion or more. “It’s going to be a big claim, and the big number there is the potential cost to rebuild the bridge,” said John A. Miklus, president of the American Institute of Marine Underwriters, in an interview Tuesday, a week after the bridge was struck by the freighter Dali and collapsed, killing six people. “This is one of the largest, most complicated marine claims I can think of.”