INSUBCONTINENT EXCLUSIVE:
The collapse of a bridge in the US city of Baltimore will result in the largest single marine insurance loss ever, a British insurance
marketplace said.Six people were presumed dead after a ship crashed into the bridge, and divers have recovered two bodies.Experts say the
said.The Maryland Department of Transportation has so far asked the Biden administration for $60m in emergency funds to help clear debris
and clean up after the incident.Addressing the bridge collapse is not the only expense, either
port is to global commerce.Mr Neal would not offer a number for how much insurance companies may be billed for the collision, but analysts
at Barclays have said the claims could cost insurance companies as much as $3bn.The analysts said damages to the bridge itself could amount
In 2023, 52.3 million tonnes of foreign cargo, worth $80.8bn, passed through Baltimore, according to data from the state of Maryland.Experts
have stressed that the closure of the port could have ripple effects on global supply chains.President Joe Biden has said the federal
government should cover the cost to rebuild the bridge.Paul Wiedefeld, secretary of the Maryland Department of Transportation, and other
officials noted that resolving the bridge collapse will not be a quick process.But he promised at a press conference on Wednesday that
