Lloyd's carries several Billion Dollar policies with the Singapore Registered Carrier. (Reported)
Why was Joey out there saying the American Taxpayers will foot the bill?
Dementia? Stupidity? Freudian slip?
Because by the time Lloyd's pays - everyone on this forum will be dead and buried. US gov gets it rolling/pays now because this is a fairly important port. When the insurance checks come in finally - they're turned over to the government.
It's in the nation's interest to expedite the clearing and rebuild. Waiting on a lengthy insurance process of assigning blame isn't recommended.
The Lloyd's insurance covers the boat and what it hit. Shared insurance covers the cargo. The insurance companies for all the BCO's and the ship owner will argue over what % of clean up was due to cargo, what % was due to ship. Then they're all going to discuss if the owner or the operator of the boat is at fault or does the charter company (Maersk) bear responsibility. Do the Baltimore Port Pilots? - all of those competing insurance companies will argue about this for the next 10 years+
Baltimore needs the port open now.
Honestly - they should be asking the SeaBees for help as clearing this is WELL within their wheelhouse of skills.
