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12/21/2024 10:10:16 AM
 
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Section 25: Chit Chat Subject: Key Bridge Msg# 1217836
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Larry, thanks for that explanation from a former insurance guy. 
Maryland surely does not want to wait 20 years to rebuild that bridge. The Fed putting the money upfront is a logical solution to get it done as soon as possible. |
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For reference, the above message is a reply to a message where: The boat’s insurance carrier is only a small piece of the pie. Maritine law makes every company that had an item in the containers also responsible. Those companies will pay a pro rata share based on the number and value of the items. It will probably take 20 years to sort it out. The insurance money should go back to the federal government if the fed is paying the bills. The bridge insurer also will pay and get their money back. There also could be many other carriers involved once they figure out the cause of the ship losing power. Marine claims are very complicated. |
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