VIDEO: Ship hits Keys Bridge in Maryland (USA)
Re: VIDEO: Ship hits Keys Bridge in Maryland (USA)
The maritime insurance lawyers will be ecstatic about the flood of work coming their way...hanno wrote: ↑Fri Mar 29, 2024 11:06 amNot that straightforward, apparently. The ship owners could even invoke a 1851 law, limiting how much they pay:Doc67 wrote: ↑Thu Mar 28, 2024 9:50 am Why did Biden promise full federal funding to replace the bridge?
“It's my intention that the federal government will pay for the entire cost of reconstructing that bridge and I expect the Congress to support my effort," Biden said, speaking from the White House ahead of a trip to North Carolina.
https://www.reuters.com/world/us/biden- ... 024-03-26/
Huge ships have huge insurance policies because when things go wrong, they can go wrong in a very big way. Think Exxon Valdez, Concordia etc.
So why is Biden promising 100% federal funding when the insurers must be liable for this cost. If this is a political stunt, it's a bit thin because the insurance liabilities are already being discussed in the media.**
https://edition.cnn.com/2024/03/28/busi ... index.html
Re: VIDEO: Ship hits Keys Bridge in Maryland (USA)
People who work in maritime insurance tend to be notably devoid of emotion, trust me on that...Doc67 wrote: ↑Fri Mar 29, 2024 1:39 pmThe maritime insurance lawyers will be ecstatic about the flood of work coming their way...hanno wrote: ↑Fri Mar 29, 2024 11:06 amNot that straightforward, apparently. The ship owners could even invoke a 1851 law, limiting how much they pay:Doc67 wrote: ↑Thu Mar 28, 2024 9:50 am Why did Biden promise full federal funding to replace the bridge?
“It's my intention that the federal government will pay for the entire cost of reconstructing that bridge and I expect the Congress to support my effort," Biden said, speaking from the White House ahead of a trip to North Carolina.
https://www.reuters.com/world/us/biden- ... 024-03-26/
Huge ships have huge insurance policies because when things go wrong, they can go wrong in a very big way. Think Exxon Valdez, Concordia etc.
So why is Biden promising 100% federal funding when the insurers must be liable for this cost. If this is a political stunt, it's a bit thin because the insurance liabilities are already being discussed in the media.**
https://edition.cnn.com/2024/03/28/busi ... index.html
Re: VIDEO: Ship hits Keys Bridge in Maryland (USA)
My guess is that's why Biden wants the Federal Gevernment to step in.Doc67 wrote: ↑Fri Mar 29, 2024 1:39 pmThe maritime insurance lawyers will be ecstatic about the flood of work coming their way...hanno wrote: ↑Fri Mar 29, 2024 11:06 amNot that straightforward, apparently. The ship owners could even invoke a 1851 law, limiting how much they pay:Doc67 wrote: ↑Thu Mar 28, 2024 9:50 am Why did Biden promise full federal funding to replace the bridge?
“It's my intention that the federal government will pay for the entire cost of reconstructing that bridge and I expect the Congress to support my effort," Biden said, speaking from the White House ahead of a trip to North Carolina.
https://www.reuters.com/world/us/biden- ... 024-03-26/
Huge ships have huge insurance policies because when things go wrong, they can go wrong in a very big way. Think Exxon Valdez, Concordia etc.
So why is Biden promising 100% federal funding when the insurers must be liable for this cost. If this is a political stunt, it's a bit thin because the insurance liabilities are already being discussed in the media.**
https://edition.cnn.com/2024/03/28/busi ... index.html
Before they made clear in court who's liable for what, a decade or more has passed. Another few years before the first compensation is actually paid for. In the mean time the harbor is blocked, over twenty ships are locked in, and about the same are locked out. My guess is he wants swift action, and without funding that's not going to happen.
Re: VIDEO: Ship hits Keys Bridge in Maryland (USA)
I could chat with the liability/insurance director for an hour or more at the huge global logistics company I worked for and still not be sure whether the answer to my original question was yes or no.
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