The Costa Concordia Disaster: Court Considerations One Year Later

Introduction

On January 13 2012 the Costa Concordia capsized while carrying around 3,200 passengers and 1,000 crew members; 32 people were killed in the accident. The disaster is one of the worst in the cruise industry's recent history, and will likely be the largest marine insurance loss on record.

Costa Cruises, which operated the Concordia, initially offered survivors a 30% discount off future cruises, but the proposal was dismissed as "insulting", so Costa subsequently offered 11,000 (around $14,250) in compensation to uninjured passengers for items lost and any psychological damages, plus a further €3,000 for reimbursement of costs incurred after the event.

Settlement