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Costa Concordia Insurance Payouts Skyrocket
Insurance payouts are reportedly about to top usd$1.1 billion as workers continue to attempt to salvage the ship. The Reinsurer Munich Re said that the ship had a hull value of usd$500 million. The rest of the costs are from the salvage operation which appears to be stalling.
Munich Re is reportedly taking a hit of usd$132 million that has to come out of their pockets.
