NewsKey Bridge Collapse


MDTA anticipates $350 million Key Bridge insurance payment in the next 45 days

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Posted at 7:00 PM, May 31, 2024

A $350 million payment from Chubb, the company who insured the Key Bridge, is expected to come in the next 45 days.

WMAR first learned this on May 2, after a spokesperson with WTW, the brokerage firm handling the Key Bridge insurance policy, confirmed it.

RELATED: State of Maryland on verge of collecting $350 million insurance payout for Key Bridge Collapse

"These insurance proceeds, federal funding and other reimbursements will bring a variety of resources toward the rebuild and recovery effort," the MDTA says.

A lawsuit was also filed against the owner and operator of the DALI container ship, who have denied any fault or neglect.

The federal government has already fronted $60 million towards recovery efforts.