Posted on 06/02/24
| News Source: WMAR2NEWS
Baltimore, MD - June 2, 2024 - A $350 million payment from Chubb, the company who insured the Key Bridge, is expected to come in the next 45 days.
WMAR first learned this on May 2, after a spokesperson with WTW, the brokerage firm handling the Key Bridge insurance policy, confirmed it.
"These insurance proceeds, federal funding and other reimbursements will bring a variety of resources toward the rebuild and recovery effort," the MDTA says.
A lawsuit was also filed against the owner and operator of the DALI container ship, who have denied any fault or neglect.
The federal government has already fronted $60 million towards recovery efforts.