Mainly I’m curious if the insurance of the ship or any other kind of insurance company will be involved + any other source that will pay for this.
Im totally aware that first an investigation must be completed to know the causes in order to determine liabilities and consequences. Hypothetical cases are welcome 🙂
In: Economics
This isn’t really a situation where someone’s going to pay for damages and losses.
If you remember that ship blocking the Suez canal – the compensation afterwards was just related to the salvage operation, nothing to be done about the 10s of billions of dollars of trade that was impacted.
That’s the proximal problem now – the bridge in the water is blocking the port of Baltimore. So the federal government and DOT will get right on trying to clear the bridge, the state will do what it can, and at the end of all of this there might be some lawsuit against the company that owns the boat for operating unsafely (if that’s the case) but it’s not going to be asking for the cost of the bridge or the cost of lost trade in the next few weeks etc.
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