03-31-2024, 01:03 PM
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Reformed Know-Nothing
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Join Date: Oct 2009
Location: MoCo, MD
Posts: 25,916
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Quote:
Originally Posted by Rajoo
Very much doubt any shipping company will carry that much insurance, reconstruction estimated at $400 Million and chances are it will double or more depending on design and speed of construction. One of the three things insurance companies are known for is deny, deny, deny to pay which is why President Biden has already said our government will pay and he should have that money in emergency funds. Anything the insurance companies kick in will be after the fact, if any.
Imagine having to work through the people who built the ship, ones who own it, leasing company, Maersk, Baltimore port. I am pretty sure Maersk will be held liable for the loss of six and that alone will take five or more years to settle.
https://abcnews.go.com/US/wireStory/...lion-108640954 |
But the amount of the ultimate settlement is not affected by the limits of defendants' insurers.
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