ACE American Insurance Settles $350M with Dali's Owner Before Trial
ACE American Insurance Company has reached a $350 million settlement with Grace Ocean, the owner of the containership Dali, and Synergy Marine Group, the ship's manager. This settlement comes ahead of a civil trial concerning the 2024 incident where the Dali collided with the Francis Scott Key Bridge in Baltimore, resulting in six fatalities and significant economic losses. The settlement amount matches the maximum liability under the insurance policy. The trial, set to begin on June 1, will address claims of limited liability under the Limitation of Liability Act of 1851, which could cap the companies' liability at $44 million. The trial will proceed in two phases, with the first focusing on liability limits and the second on apportioning liabilities.