The Maryland Transportation Authority, through the state treasurer, has filed an insurance claim for the Francis Scott Key Bridge collapse, according to MDTA’s chief financial officer Deborah Sharpless.
The insurance policy for the facility has a $350 million maximum, with a deductible of $50 million, Sharpless told the authority’s board members at a Thursday morning meeting, where officials also said planning has begun for a new span.
The claim was filed March 26, the day of the collapse. It’s expected the next step will be requests for information from the insurance companies, through the treasurer’s office, she said.
“We will establish a process here to share the information that needs to be shared,” Sharpless said.
The agency also has a liability policy worth $150 million, with a deductible of $5 million. Notice of a pending claim also has been filed for that policy, she said.
Sharpless also shared that the Key Bridge represented 7.4% of MDTA’s revenue in the last fiscal year.
Meanwhile, the agency is involved in conversations about the planning and design of a future replacement bridge, officials said at the board meeting.
MDTA Chief Engineer Jim Harkness said the authority is working with the U.S. Department of Transportation and Federal Highway Administration on “initial planning and coordination efforts.”
He said the agency is looking to use “innovative project delivery, design and engineering … to get this done as fast as we can.”
Maryland Transportation Secretary Paul Wiedefeld, who oversees the MDTA and other agencies, said the goal is to rebuild with a bridge that “meets current standards.”
“That work is moving just as aggressively as other things that you’re seeing, just behind the scenes,” Wiedefeld told board members.
