And the ship's owners just filed their petition, asking their liability be limited to the value of the ship's cargo: $43.7 million. The ship has $3.1 billion in insurance coverage, but the law still allows this dance from 1851 for no good reason.

From 6d ago

So uhhhh is the ship insured

It'll be insured (and reinsured), though not at a level sufficient to rebuild the bridge.

If you really want to rot your brain, go poke around the Limitation of Liability Act of 1851 and ask why on Earth that's still the law in 2024.