Insurers could face losses of up to $4 billion after Baltimore bridge tragedy [USA TODAY]
Moody's Corporation (MCO)
Last moody's corporation earnings: 4/30 07:00 am
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Source: USA TODAY
much as $4 billion, which would make the tragedy a record shipping insurance loss. Officials have turned toward a salvage operation with four people still missing in the wreckage and two bodies recovered after a collision with a Singapore-flagged container ship destroyed the landmark bridge on Tuesday, forcing the closure of one of the busiest U.S. ports. With little clarity on when the Port of Baltimore would reopen, insurers and analysts are now assessing the likely losses borne by underwriters across several product lines including property, cargo, marine, liability, trade credit and contingent business interruption. "Depending on the length of the blockage and the nature of the business interruption coverage for the Port of Baltimore, insured losses could total between $2 billion and $4 billion," said Marcos Alvarez, managing director for global insurance ratings at Morningstar DBRS. That would surpass the record insured losses of the Costa Concordia luxury cruise liner disa
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MCO
Earnings
- 2/14/24 - Miss
MCO
Sec Filings
- 4/19/24 - Form 8-K
- 4/2/24 - Form 3
- 4/2/24 - Form 4
- MCO's page on the SEC website