Ship: DALI
Nature of claim: Allision with Francis Scott Key Bridge, Baltimore
Incident Date: 26 March 2024
Update: 25 August 2026
Further to the below, a shortfall had arisen in settlement of the subject State of Maryland claims, arising from one reinsurance group having initially reserved its position and failing to pay its respective shares in line with the payment deadlines of the settlement agreement reached with the State. An interim solution to fund the shortfall was approved by all Clubs within the IG which enabled Britannia and their members, to satisfy the settlement agreement to the satisfaction of the State.
We are now pleased to report that payment of the shortfall has been agreed in full by the reinsurance group in question. All markets have now paid their shares emphasising the strength of the IG’s reinsurance arrangements and the strong partnership the IG enjoys with the reinsurance markets.
Original press release: 17 June 2026
In line with the agreed timetable, The Britannia Steam Ship Insurance Association Europe (‘Britannia’) has made a payment on behalf of its Members who are a party to the action to the State of Maryland in accordance with the settlement agreement reached between the parties. A shortfall in that payment has arisen as a result of one reinsurance group failing to pay its respective shares, in line with the deadline set out in the settlement agreement.
Britannia considers this reinsurance group to be in breach of its policy obligations and is urgently taking all steps available to it to enforce its entitlement under the policies against this reinsurance group without further delay.
This shortfall has caused Britannia to seek support from its pooling partners within the International Group of P&I Clubs (the “IG”). An interim solution to fund the shortfall has been approved by all Clubs within the IG to enable Britannia and their members to satisfy the settlement agreement within a short time period. This reinforces the collective strength of the IG as a responsible association and its ability to respond promptly in the face of an unexpected development on its reinsurance programme.
