Baltimore Bridge Collapse Could Cost Reinsurers Over $3 Bln, S&P Says

The costs of the collapse of the Francis Scott Key Bridge in Baltimore's could amount to over $3 billion, but will likely only dent insurers' earnings, according to an S&P Global Ratings report. "In our view, the losses will likely be shared among the protection and indemnity (P&I) clubs and the global reinsurance sector," the agency says.