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Chubb cuts the first check
Chubb decided this will be a full limit loss and is preparing to pay $350,000,000 which is full amount of coverage.
Now Chubb can focus on collecting from it's re-insurers, which it probably already has a tacit agreement.
Pretty quick and smart decision by senior management.
It's too bad the Mayor of Baltimore and City Council open their big mouths on the sea worthiness of the Dali. The Mayor and Council Members don't know anything about international liability insurance, and some of their comments could come back to haunt them.
The focus is now on Britannia P&I Club.
Last edited by verticaldoug; 05-02-2024 at 06:10 AM.
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