Baltimore Bridge Collapse – The Largest Loss In Maritime Insurance History

On 26 March 2024, the iconic Francis Scott Key Bridge in Baltimore, USA collapsed after it was hit by Dali, a ship owned by Grace Ocean Private in Singapore and insured by Britannia P&I Club.

The losses incurred by this accident vary between direct losses such as the rebuilding cost of the bridge and the compensation for the six- workers killed and the dozens more injured, and consequential losses of business disruption due to the closure of Baltimore port, and the bridge itself which will be put out of service for at least one year from now until its rebuilding.

The resulting damages combined may go up to 4 billion dollars, making this accident the largest single loss in maritime insurance history.