marine

The forthcoming launch of the first marine cargo and specie catastrophe risk model from RMS will provide an enhanced approach to marine risk quantification, helping ILS investors and capital to increase participation in the marine insurance and reinsurance market.

The total insurance industry loss from the wreck and salvage of the stricken cruise ship Costa Concordia looks set to get very close to the $2 billion we reported was likely over a year ago which could increase any impact on ILS or ILW instruments.

Due to difficulties faced during the salvage of the stricken cruise ship Costa Concordia the total insured loss from one of the most costly marine disasters in history look set to rise, perhaps to greater than $2 billion, according to reports.