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If the maritime insurance industry is going to take such a big hit with this accident, then WHY is the US government already stated it will be paying for the new bridge?
I would think that getting a replacement up would be a priority and the contractors are going to want to get paid. I'm sure any claims are going to take years. So, IMO, its best to cover it however it takes, and worry about getting it back when that time comes. Besides, better to put our tax money into our country for once!
If the maritime insurance industry is going to take such a big hit with this accident, then WHY is the US government already stated it will be paying for the new bridge?
No one said that the US government wouldn't claw back what they can from the insurers. But the people of Baltimore shouldn't have to wait for this to work its way though maritime courts, and it's frankly unlikely that they'll pay the full replacement cost.
Because the Feds did the same thing when the I-35W span over the Mississippi in Minneapolis fell, with greater loss of life.
IDK if they also pledged to cover the full cost of replacing the Sunshine Skyway bridge, but they may not have, since only one of the two bridges fell and the state of Florida decided to rebuild both.
There was no maritime cause of the I-35 bridge collapse. It fell when connecting parts corroded.
Next time, put fender islands around the bridge piers.
If the maritime insurance industry is going to take such a big hit with this accident, then WHY is the US government already stated it will be paying for the new bridge?
What makes you think the maritime insurance industry will take a big hit?
The Limitation of Liability Act caps the liability of the cargo ship’s owners—and their several insurers—at the value of the goods the ship was carrying plus the value of the ship itself.
What makes you think the maritime insurance industry will take a big hit?
The Limitation of Liability Act caps the liability of the cargo ship’s owners—and their several insurers—at the value of the goods the ship was carrying plus the value of the ship itself.
thats the value of the ship that was lost (it was not, it was most fender bendered) and the couple dozen containers at the bottom of the bay.
however, the OPERATING clause of its policy will come to play here. not unlike at all to YOUR liability insurance on the hooptie
fwiw, the greatest portion of the monthly payment I make to allstate boatowners insurance co is in fact for the liability to cover what I might do to others.
There was an interview with a man who crossed the bridge just seconds before the bridge collapsed. Scary stuff.
I was thinking about this yesterday, because in our area a woman sitting in her car at a red light was killed by a tree that came down in the rain and wind. I was wondering if she was late, or decided to stop at McDonald's, or stop for gas, or some other seemingly tiny decision that put her in exactly the wrong place at exactly the wrong time. It's scary how such a tiny decision can determine your fate.
I was thinking about this yesterday, because in our area a woman sitting in her car at a red light was killed by a tree that came down in the rain and wind. I was wondering if she was late, or decided to stop at McDonald's, or stop for gas, or some other seemingly tiny decision that put her in exactly the wrong place at exactly the wrong time. It's scary how such a tiny decision can determine your fate.
it goes both ways, she could have stopped for coffee, putting her behind her 'universe' time, or she could have refused to let the kids cross the street, putting her ahead.
Since we are in the matrix, if the matrix is a smart machine, it preexecutes BOTH paths, then once you decide, the choice is already made <-----ya I know that sounds like sci fi, but in the computer world, especially on the big iron IBM mainframes, we do exactly that for the last 30 years. the electrons are free and the time saved equals big dollars on big data
there are those that argue that idiotic 'if a tree falls...' question into absurdity, but the fact remains the tree fell. if other paths made something else intersect at those coordinates...oh well. the two are independent of each other if we are NOT in the matrix. see any black cats lately?
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