Container ships will bear the brunt of a sharp rise in reinsurance costs in 2025 because of the estimated multibillion-dollar costs of the Baltimore Bridge disaster.
Rates will increase by 24% in 2025 under the deal negotiated between reinsurers and the International Group of P&I Clubs.
Reinsurers for the group cover the biggest third-party losses from shipping casualties between $100m and up to $3.1bn
