CATCo commutes Costa Concordia reinsurance losses (blog)
CATCo Investment Management, the specialist Bermuda based reinsurance-linked investment business that manages around $2 billion of retrocessional reinsurance portfolios for its clients, has commuted a portion of its losses from the Costa Concordia marine disaster according to a stock exchange announcement. Commuting the losses early allows them to be accounted for now and reduces the chance for loss creep affecting the CATCo Reinsurance Opportunities Fund investors.
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Costa Concordia passenger to be reunited with luggage after nine months

The Guardian
Austrian man’s suitcase washes ashore on Italian island of Elba, 17 miles from where cruise ship capsized.
Nine months after the Costa Concordia cruise ship smashed into the Tuscan island of Giglio, one passenger is finally set to get his suitcase back after it washed ashore 17 miles away on a different island, The suitcase, which was found on a beach on the island of Elba on Monday, belonged to an Austrian man who was among the 4,300 passengers and crew who fled the vessel as it capsized in shallow water in January, leaving 32 people dead.
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Costa Cruises and Titan/Micoperi Launch Informational Website

Costa Cruises, in partnership with Titan/Micoperi, launched a website today that provides a wealth of information and images relating to the Costa Concordia wreck-removal project at” is the technical term for the process of rotating the wreck into an upright position — one of the most complex and crucial phases of the removal plan.
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Concordia disaster prompted ‘purge of captains’

Travel Weekly UK
WTM 2012: The Costa Concordia tragedy prompted a number of other cruise lines to review the behaviour of senior officers, with some captains relieved of their duty. Former Fred Olsen Cruise Lines marketing director Nigel Lingard, speaking at a Travel Weekly debate at World Travel Market, indicated the practice of “sail pasts” close to land was not isolated to Costa.

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Costa boss talks of obligation after Concordia tragedy

Travel Weekly UK
The new boss of Costa Cruises has spoken of his “obligation” to make sure nothing like the Concordiaaccident ever happens again. Michael Thamm, chief executive officer of Costa Crociere S.p.A, said the incident was a huge shock to all the line’s employees. He said one word summed up his and his company’s reaction to the tragedy, which led to the death of 32 people when the Costa Concordia flagship sank off the coast of Italy in January this year – ‘obligation’.
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A Concordia passenger answers questions

DISCLAIMER: I wasn’t on the Concordia, my parents and sister were, I will collect the questions and give them to my mother to answer (you may direct questions at my dad too, I don’t know if he will answer them though, and my sister will NOT be answering questions).
How do you feel towards captain Schettino? Any anger? How was the evacuation going?
*”I feel very angry towards Schettino because he brought me, my family and all the passengers in danger.”

*”The evacuation was more like every man from himself, all of the senior crew member escaped the ship and all the work about the evacuation had fallen in the hands of the manual labor part of the crew (i.e. waiters, servers, line cooks and similar) which preformed good but there were just too many people for them to handle.”
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