Bermudan, European reinsurers to suffer major hit from bridge collapse

According to industry sources, European and Bermudian reinsurers may be on the hook for much of the protection and indemnity related liability for the collapse of the Francis Scott Key Bridge in Baltimore, Maryland, The Royal Gazette reported citing Reuters. Bruce Carnegie-Brown, chairman at Lloyd’s of London, said that the incident is expected to result multibillion dollar insurance claims, which could make it the largest single marine insurance loss ever.