Putting aside liquidities to enable speedy claims settlement is important, but it must be part of tracked processes, where funds are always secure, fully visible and accounted for. Visible treasury is gold. (Credit: Rassco/Adobe Stock)
The recent catastrophic collapse of the Francis Scott Key Bridge in Baltimore will amount to record losses — $4 billion, by some estimates — for shipping insurers. The payout check from Chubb, who insured the bridge, was reported to be about $350 million. As of early May, the insurer was readying the payment, subject to authorization.
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