Matthew Dowler’s Post

The Atlantic does a really good job of making stories like this one human. The consequence of places being uninsurable is large numbers of people being under-insured. The consequences of large numbers of under insureds, are stories like the ones profiled here. The article provides no solution, it recognises the impossibility of the problem from both the property owner and the insurer's perspectives. I have no solution either, but we must keep reminding ourselves of our challenge. https://lnkd.in/eJqBQagh

The recent collapse of the Francis Scott Key Bridge in Baltimore Harbor has had a significant impact on trade and transportation throughout the East Coast region. The Port of Baltimore has temporarily opened a deep water channel to commercial shipping traffic, but it may take until late 2028 to rebuild the bridge. This means that businesses that rely on the Port and its supporting infrastructure for marine shipment and distribution of cargo, as well as those reliant on the FSK Bridge, are facing significant financial losses. However, there is hope. Common first-party insurance coverages may provide recoveries for these financial losses. To learn more about these coverages, check out this insightful article from Read Smith LLP. #BORtheTour #FrancisScottKeyBridge #InsuranceCoverages #FinancialLosses

On March 26, a containership struck the Francis Scott Key Bridge in Baltimore resulting in the collapse of the highway infrastructure and tragic loss of life. As communities grieve the loss of loved ones, businesses around the world are grappling with the economic fallout, including significant #supplychain disruptions. Commercial #insurance policies can be a valuable asset to protect against business interruption losses when a crisis destroys critical infrastructure. Carefully documenting all associated losses is critical to maximize #insurancerecovery. https://lnkd.in/gdQWmHhF McGuireWoods LLP authors: Tony Tatum, Shelby Guilbert, Joe Englert, Shelby Peek, Emma R. Leonelli

With the state of of California ranking as the worlds 5th largest economy, building confidence for the insurance and reinsurance markets is paramount. "The hope is to make insurance rates more reliable, make coverage more available, develop the expertise in the state to apply strong oversight of models and their use, and ultimately capture the benefits of catastrophe mitigation to incentivize and reward those efforts." This article highlights a great first step in the right direction for the Golden State!

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The marine insurance industry is preparing for substantial claims following the recent Baltimore Bridge disaster involving the Dolly containership. This incident could rival the scale of the 2012 Costa Concordia tragedy, which saw $1.5 billion in payouts. As complex claims unfold, insurers and reinsurers brace for a lengthy process with significant financial implications. https://wix.to/75Y6zcL #newblogpost,#MarineRisk, #InsuranceIndustry, #MaritimeLaw, #BridgeCollision, #SupplyChainImpact, #GlobalTrade, #Containership, #RiskManagement, #Reinsurance, #Payouts,#MarineInsurance, #BaltimoreBridge,#Maritime

#Florida is going to be next. Then you look at the consistent tornado damage and destruction in the midwest, I don't see how this is sustainable for an industry for the US as a whole. #tech for #meterology is very much needed to create instruments that have the capability to break up storms. Sounds like an industry that #defense could branch out to. This isn't sustainable. These #tornadoes look #CGI lately. #weather #environment #insurance #statefarm #allstate #homeownersinsurance

Choosing to build with #concrete over wood means less risk. Nationwide studies show that concrete saves on builder’s risk insurance and property insurance for multifamily buildings. Check out National Ready Mixed Concrete Association's latest Survey of Insurance Costs to learn more: https://bit.ly/3zBGB2J

The Francis Scott Key Bridge collapse isn't just a structural failure – it's a tremor shaking the insurance world. Lloyd's of London braces for a record-shattering payout, hinting at rising premiums and stricter policies for the maritime industry. This disaster echoes beyond bridges. It's a stark reminder of infrastructure's fragility, and the ripple effects a single collapse can have. #insurance #maritime #infrastructure #riskmanagement https://lnkd.in/dK_7pTud