Cruise ship disaster costliest in maritime history

sinking-ship

Industry analysts and experts have suggested that some insurers and mutual societies could be left facing $1bn (£650m) in losses, following the accident which has left at least seven dead and dozens more injured.

There are two groups liable in maritime insurance cases – clubs of cruise ship companies that insure each other for personal injury, shipwrecks and environmental damage, and the various insurers which underwrite the ship.

The Costa Concordia is insured for $513m by companies including

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