‘Worried’ about image
“We aren’t worried about the insurance coverage, what we are worried about is the damage to the image of the company,” he said in the Italian Senate. “We have enough funds to cover loss of ship as well as the claims and costs linked to the accident.”
Carnival’s Italian unit reached a damage-settlement agreement with consumer groups last week as the company was sued in Miami and Chicago. Insurance costs for the accident may reach $1 billion once environmental damage and injuries are tallied, Moody’s Investors Service said on Jan. 23. Most of the losses will be incurred by reinsurers, Moody’s said.
Italian consumer-law group Codacons and New York law firm Proner and Proner filed a suit against Carnival in Miami on Jan. 27. The plaintiffs are seeking $460 million in compensation, Proner lawyer Mitchell Proner said during a webcast press conference today. The complaint names six plaintiffs, he said.
| Advertisement |
Concordia’s Captain Francesco Schettino was placed under house arrest on Jan. 17 for allegedly causing the wreck and abandoning the ship. Bruno Leporatti, his lawyer, has said the captain didn’t abandon the ship and wrote in a Jan. 16 statement that his actions saved many lives. Prosecutors in Grosseto, Italy are interrogating Roberto Ferrarini, head of Costa Crociere’s marine operations department, as a witness today, Foschi said.
Costa Crociere yesterday presented a plan to remove debris and other waste, the civil-protection agency said. The ship may be righted by using balloons, though that’s “extremely difficult,” Foschi said on Jan. 16. He didn’t rule out carving up the cruise liner.
Search our database of more than 2,700 industry companies
