MPA confirms the ship's compliance with all necessary safety protocols, including passing of two separate foreign port state inspections in June and September 2023.
Claims to be well in excess of GXL US$100m attachment point, leaving reinsurers bearing bulk of insured cost, but risk understood to be spread across 80 reinsurers.
Container ship collided with bridge, causing it to collapse and sending people and vehicles into the Patapsco River, with initial estimates suggesting damage could run into the billions.
New tool from Aon aims to transform climate data into actionable insights for insurers and businesses, with Singapore Climate Hub instrumental in developing tool.
