The US government will pay to make it a fast rebuild of the bridge to re-open the port, but the government has already filed a $1b claim with Britannia.

The Dali ship is owned by Grace Ocean Private, a Singapore-based company, and insured by the Britannia Protection and Indemnity Club.

Britannia is one of the dozen marine insurance member clubs under the International Group of P&I Clubs, a consortium that provides marine liability coverage for 90% of ocean freight and pools liability claims among members.

These insurance companies are backed by insurance companies of their own – a type of business known as a reinsurer.

Around 80 different reinsurers provide around $3 billion in coverage to the Dali’s insurers, according to Moody’s analyst Brendan Holmes. Since the losses will be spread across so many insurers, it’s unlikely to bankrupt any of the companies or cause a major bump in insurance prices, he said.