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25 February 2018

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(Re)insurers waiting on fresh Costa Concordia creep

2 June 2014

The (re)insurers of the Costa Concordia are awaiting loss advice showing a further deterioration on a total claims burden that already stands at more than $1.6bn, after the removal of the wreck was delayed.

Underwriting sources said that they had heard nothing to date from broker Miller, but expected that an increase in the loss was only a matter of time as the cost of salvaging the cruise liner rises.

Last month, one of the 800-tonne tanks being used to...

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