Black Swans and Swiss Cheese – A Boat Crash in Baltimore
Plan B Consulting
APRIL 2, 2024
According to Lloyd’s, this event might be the biggest ever marine loss in the history of the insurance industry as the event was a ‘fully insured risk event’, meaning that the Francis Scott Key Bridge, the ship, the vessel’s cargo, and the port, were all covered. The ship lost power and had to wait for the backup generators to kick in.
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