The Dali claim showed just how resilient the re/insurance is: Gallagher Re

The Dali claim showed just how resilient the re/insurance is: Gallagher Re

Dali loss has been a test for industry – but one that illustrated just how effective the risk-transfer in place for such incidents can be.

Key points:

Dali loss a test for carriers

Losses spread far and wide

Unlikely to result in hardening

“Dali is a significant marine claim, but since the incident all layers of the re/insurance industry has proven how resilient and effective the system is when called upon.”

Since cargo ship MV Dali collided with Baltimore's Francis Scott Key Bridge on Marsh 26, 2024, the insurance industry has steadily been trying to get a handle on the loss. Perhaps inevitably, loss estimates steadily increased to the point they are now edging towards $3 billion. But the incident has also illustrated just how effective the risk-transfer in place for such incidents can be.

That is according to Matt Jenkins, senior broker, Gallagher Re, who argues that while the scale of the loss has tested the international protection and indemnity (P&I) insurance market, in fact, it has also shown the value of insurance and reinsurance.

“Dali is a significant marine claim, but since the incident all layers...