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Princess Chatter Archive / Re: Carnival owned cruise ship Costa Concordia runs aground off Italy
« on: January 16, 2012, 08:14:13 AM »
"The ship was insured for €405m (£335m) with around a dozen companies, led by the XL Group, which operates in the Lloyd's of London market. Britain's RSA Insurance and Italy's Generali are also on the hook. RSA's exposure is thought to be for less than €10m. Aon was the insurance broker.
Carnival's cover includes hull and machine insurance as well as protection and indemnity cover for crew and passenger injuries, shipwrecks, damage to third parties and pollution. However, it has in the past, like many large companies, chosen to self-insure part of its cover – effectively taking on the risk itself. Filings last year suggest it did not have cover for the loss of revenues from an incident like the Concordia disaster."
http://www.independent.co.uk/news/business/news/disaster-liner-was-insured-for-405m-6290244.html
"Carnival Corp. fell the most in more than 10 years in London trading after saying the grounding of the Costa Concordia off Italy’s Tuscan Coast that killed at least six people will cost the company as much as $95 million."
The insurance loss could be $500 million to $1 billion depending on liability claims, exceeding the loss from the Exxon Valdez disaster including pollution, said Joy Ferneyhough, insurance analyst at Espirito Santo Investment Bank."
http://www.businessweek.com/news/2012-01-16/carnival-falls-as-cruise-ship-disaster-may-cost-95-million.html
"U.K.-listed shares of Carnival (CCL: 34.28, -0.86, -2.45%) plunged almost 20% Monday morning as the markets fret about the financial impact of the Costa Concordia cruise-ship disaster off the coast of Italy over the weekend.
Analysts warned the disaster, which has caused at least six deaths, could hurt bookings, lead to a flurry of lawsuits and reduce the company’s ship capacity. Sixteen other people are believed to be missing."
http://www.foxbusiness.com/industries/2012/01/16/carnival-sees-0m-impact-from-costa-accident/
Carnival's cover includes hull and machine insurance as well as protection and indemnity cover for crew and passenger injuries, shipwrecks, damage to third parties and pollution. However, it has in the past, like many large companies, chosen to self-insure part of its cover – effectively taking on the risk itself. Filings last year suggest it did not have cover for the loss of revenues from an incident like the Concordia disaster."
http://www.independent.co.uk/news/business/news/disaster-liner-was-insured-for-405m-6290244.html
"Carnival Corp. fell the most in more than 10 years in London trading after saying the grounding of the Costa Concordia off Italy’s Tuscan Coast that killed at least six people will cost the company as much as $95 million."
The insurance loss could be $500 million to $1 billion depending on liability claims, exceeding the loss from the Exxon Valdez disaster including pollution, said Joy Ferneyhough, insurance analyst at Espirito Santo Investment Bank."
http://www.businessweek.com/news/2012-01-16/carnival-falls-as-cruise-ship-disaster-may-cost-95-million.html
"U.K.-listed shares of Carnival (CCL: 34.28, -0.86, -2.45%) plunged almost 20% Monday morning as the markets fret about the financial impact of the Costa Concordia cruise-ship disaster off the coast of Italy over the weekend.
Analysts warned the disaster, which has caused at least six deaths, could hurt bookings, lead to a flurry of lawsuits and reduce the company’s ship capacity. Sixteen other people are believed to be missing."
http://www.foxbusiness.com/industries/2012/01/16/carnival-sees-0m-impact-from-costa-accident/