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Q2 Costa Concordia loss estimates soar amid fears of wreck removal inflation

12 August 2013

The spiralling wreck removal costs for the Costa Concordia prompted many (re)insurers to increase their loss estimates for the disaster in the second quarter.

International marine reinsurers have voiced concern over the potential for further deterioration in the vast $900mn removal of wreck element of the $1.14bn protection and indemnity bill for the Costa Concordia, with completion now delayed until spring 2014.

Click to enlarge The total loss tally for the marine disaster - which includes the $500mn paid loss...

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This article was published as part of issue August 2013/2

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