Lloyd's of London sees multi-billion dollar insurance loss from Baltimore bridge collapse

LONDON - The collapse of Baltimore's Francis Scott Key Bridge is likely to lead to a multi-billion dollar insurance loss, the chairperson of Lloyd's of London said on Thursday.

It was too soon to put a figure on the total insurance loss, Bruce Carnegie-Brown told Reuters, but he said he would be "very surprised" if the event did not result in a multi-billion dollar loss, adding that "the tragedy has the capacity to become the largest single marine insurance loss ever". Imagine you have $50,000 to give to your daughter and her husband for a down payment on their new home. The question is, will you owe gift taxes because of your generous gesture? Despite popular framing, the federal gift and estate taxes only apply to very wealthy households. Unless you have approximately $13 million to The post I Want to Give My Daughter and Her Husband $50,000 For a Down Payment. Do I Have to Worry About the Gift Tax? appeared first on SmartReads by SmartAsset.

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