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re: Biden says that the Fed Gov't is going to fully fund the repair of the Scott Key Bridge
Posted on 3/27/24 at 4:27 pm to justjoe906
Posted on 3/27/24 at 4:27 pm to justjoe906
quote:
Why not make the shipping company pay its part.
Because Maersk’s max liability is essentially the value of the ship. Their insurance is through a pool of like $3b.
That won’t come close to covering the damages here, much less a rebuild.
1
Posted on 3/27/24 at 4:37 pm to Indefatigable
quote:
Because Maersk’s max liability is essentially the value of the ship. Their insurance is through a pool of like $3b.
That won’t come close to covering the damages here, much less a rebuild.
Reinsurance is $3B for Maersk.
There are other channels of insurance. And like BP after Deepwater Horizon and the Valdez spill, Maersk/Synergy Marine Group can both individually be responsible for overages.
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