Chubb has Baltimore Bridge exposure, but 'nothing outsize,' CEO claims

US P&C carrier Chubb has exposure to the Baltimore bridge collapse but insists its own share of the eventual payments is nothing exceptional vis-à-vis its large-loss allowances and appetite. 

“When it comes to Chubb, it is another large loss,” CEO Evan Greenberg told his company's first quarter earnings call. 

“Of course we have exposure, but the exposure is within what we would contemplate and there is nothing outsize to us,” he said. “Another large, unfortunate claim - that's all there is too it.” 

Comments follow the late March collapse of the Francis Scott Key Bridge in Baltimore when struck by a cargo freighter leaving the Baltimore Port. While the ship in question figures on the fleet listing of the Britannia P&I mutual shipowner insurance club, a constituent member of the International Group of P&I clubs with its massive $3.1 billion of XoL marine liability limit, Chubb has been named variously to infrastructure or other covers in the area.

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