Personal injury news
23/01/2012

Insurers set to pay £500b following cruise ship disaster

The recent Costa Concordia cruise disaster is expected to become the largest insurance loss in maritime history, as the number of claims for personal injury compensation is likely to drive the cost of the disaster into huge figures.

The Costa Concordia had been carrying more than 4,200 passengers and crew on a seven-day Mediterranean cruise when it ran aground after the captain was thought to have made a navigational error.

It has been predicted that insurers may be left facing £650 million in losses, after the holiday accident left more than 10 passengers dead and a large number of holidaymakers with severe personal injuries.

Analysts at Espirito Santo bank in London have estimated that personal injury claims could result in a phenomenal final bill of more than £500 billion.

Two French survivors have already launched a claim for compensation while it has been reported that 70 Italian passengers have joined a class action suit against the ship owner for personal injury compensation.