Insurers face record $3bn bill from Baltimore bridge collapse

Insurers face a record bill of up to $3bn (£2.4bn) from the Baltimore bridge disaster, analysts have warned.

The total payout once all claims are assessed could potentially be between $1bn and $3bn, according to experts at Barclays.

The Francis Scott Key Bridge collapsed on Tuesday morning after Singapore-registered container cargo ship Dali ran into the structure.

Although claims are likely to take years to assess and settle, an initial estimate from Barclays suggests the disaster could come in at double the previous record for a maritime claim. 

The biggest payout so far was $1.5bn, recorded when the Costa Concordia cruise ship ran aground in 2012.

The value of the bridge itself has been pegged at around $1.2bn, although the insurance attached to the structure has not yet been determined. 

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