Despite having recorded episode 04 talking insurance, at the time we spoke no one could have imagined that a containership would strike and destroy bridge, essentially shutting off an entier port from commerce.

Yet that is what happened when the Dali struck a support pillar of the Francis Scott Key Bridge in Baltimore, taking down the bridge and causing loss of life and billions of dollars in damage for cleanup and new bridge construction.

One week on from the accident, the the investigation process is well underway and federal agencies are working around the clock to safely and quickly re-open the port of Baltimore, the 11th largest port in the United States and the largest port of entry for automobiles, light trucks and operates strong bulk and cruise business that is inaccessible with the closure.

The first legal actions are also being filed, including by the vessel's owner to limit their liability. President Biden promised the US goverment will rebuild the bridge, and they likely will. What undergirds that claim is a complex insurance industry infrastructure that will distribute the loss across multiple entities and ensure that the government and valid claimants are paid.

We asked Philip Bilney to rejoin us - an unusual thing to do after recording once already, but he was kind enough to share his time and contribute his thoughts and insights.