Costa Concordia loss swells by another $57mn

The ground-up loss to the reinsurance treaty of the
International Group of protection and indemnity (P&I) clubs
from the Costa Concordia sinking has increased by another
$57mn to just under $1.5bn, The Insurance
Insider can reveal.
Carriers on the programme were notified yesterday (1 December)
that the claim has risen from $1.436bn to $1.493bn as further
provisions were made for clean-up costs, sources said.
This follows a $250mn deterioration to the P&I loss reported
in July, taking the