Jeremy King Quoted in Law360 on the Massive Insurance Toll Arising from the Baltimore Bridge Crash

Chair of Olshan’s Insurance Coverage Practice Jeremy King was quoted in a Law360 article (subscription required) on how federal and local officials are seeking hundreds of millions of dollars from the owner and manager of the cargo ship that crashed into Baltimore's Francis Scott Key Bridge on March 26 and how that has raised the insurance stakes of one of the costliest maritime disasters in history. On how a finding of negligence could complicate coverage, Jeremy explained that many protection and indemnity insurance policies only exclude "expected or intended harm or injury," rather than known risks that could potentially lead to a loss: "There's no principle of 'known risk': you purchase insurance for known risks," he said. "It's very important for policyholders and insurance policies that a high bar be set for expected or intended events."