Chubb, the insurer of the collapsed Francis Scott Key Bridge in Baltimore, is preparing a $350M payout to Maryland, which is the upper limit of the state’s coverage of the bridge, Jean Eaglesham of The Wall Street Journal reports, citing the bridge’s broker. The estimated damage is expected to be over $1B. Chubb, along with the state and families of the victims, will likely sue the shipowner to recoup its losses.
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