Maryland transportation authorities revealed this week the estimated cost for rebuilding the Francis Scott Key Bridge in Baltimore could be as high as $1.9 billion.
The cost of rebuilding Baltimore's Francis Scott Key Bridge could reach nearly $2 billion, Maryland officials said this week, as the state filed insurance claims related to the collapse. The Maryland Department of Transportation said the state plans to have the rebuild completed by fall of 2028, with total costs estimated to reach between $1.7 billion and $1.9 billion.
The payout is likely to 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 that killed six people occurred after a Singapore-flagged container ship, the Dali, collided with the landmark bridge.
The FBI has also launched a criminal probe into the incident that led to the closure of one of the busiest U.S. ports. GET FOX BUSINESS ON THE GO BY CLICKING HERE The Journal said Chubb, along with Maryland and the families of the victims of the crash, will likely sue the ship owner and others to recoup losses from the crash. FOX Business reached out to Chubb for comment. Reuters contributed to this report.
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