Chubb, the insurer of Baltimore’s Francis Scott Key Bridge that collapsed in March, is preparing to make a $350 million payout to the state of Maryland, the Wall Street Journal reported on Thursday.
The payment is expected to be authorized within weeks, the report said, citing a statement from Henry Daar, head of property claims North America for WTW, the bridge’s broker.
The $350-million payout could be the first of many related to the disaster that analysts have said might cost insurers up to $4 billion, making it a record shipping insurance loss.
The tragedy