Wrecked cruise ship has $490m net value

Collision of Costa Concordia

Costa Concordia owner Carnival has announced the wrecked cruise ship has a net value of $490m (£312m) and that the firm has insurance coverage of around $510m (£324m).

Damage excesses total $40m, while the firm self-insures for loss of use.

For more on the Concordia fall-out, read our analysis: Ten things the London market can learn from Costa Concordia.

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