The collision between the cargo vessels Tricolor and Kariba in the English Channel over the weekend could cost insurers over £55m.
The 55,000-tonne Tricolor, estimated to be worth over £25m, was in ...
The collision between the cargo vessels Tricolor and Kariba in the English Channel over the weekend could cost insurers over £55m.
The 55,000-tonne Tricolor, estimated to be worth over £25m, was insured partly in the London Market. It was carrying a cargo of nearly 2,900 luxury cars, worth nearly £30m, also likely to be placed in London.
Willis confirmed that it was involved in placing some of the risks involved.
Brit marine underwriter Peter Christmas said: "It's not going to be an easy salvage. It depends on the weather. It is not in deep water, and in December there is a lot of shipping."
A further collision occurred when cargo vessel Nicola hit the capsized hull of the Tricolor early on Monday morning. It was wedged on the wreck until it was removed eight hours later. It is not thought to have suffered major damage.
