Initial estimates by Morningstar DBRS suggest that the insured damage caused by the collapse of the Francis Scott Key Bridge ranges from 2 to 4 billion USD. This would be a record loss for the marine insurance industry [4].
The 300-metre-long Singaporean cargo ship "Dali" collided with the building, causing virtually the entire bridge to collapse and people and vehicles to fall into the water.
A momentary loss of propulsion reportedly prevented the two pilots from controlling the container ship. Shortly before the accident, the vessel had managed to send out a distress call, which helped the authorities to stop part of the traffic and save lives.
All 22 crew members of the "Dali" managed to survive the accident unharmed. Rescue services suspended the search on Tuesday evening, assuming that the six missing persons were dead. They were employees of a public works company working on the Francis Scott Key Bridge.
Eight other people were pulled from the water and taken to hospital.