UPDATE 1-Ship insurer Britannia is helping in Baltimore bridge probe [Yahoo! Finance]
SWISS RE LTD S/ADR (SSREY)
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Source: Yahoo! Finance
working with the vessel's owner and U.S. authorities on the investigation into the collapse of Baltimore's Francis Scott Key Bridge, the insurer said on Thursday. The bridge collapsed on Tuesday after the Dali suffered a power outage and struck a pylon, causing huge disruption in the port. "We are working closely with the vessel's owner and manager and the relevant U.S. authorities as part of the investigation into the casualty," Britannia said in a statement. The disaster is likely to result in industry-wide multi-billion-dollar insurance claims, which could make it the largest single marine insurance loss, Lloyd's of London chairperson Bruce Carnegie-Brown told Reuters earlier on Thursday. Ship liability insurance, which covers marine environmental damage and injury, is provided through protection and indemnity insurers such as Britannia, known as P&I Clubs. Britannia declined to comment further. The International Group of P&I Clubs collectively insures approximately 90%
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