Insurance News - Carnival Cruises learns from Ship Loss

We Know the TOPS, We Know the FLOPS.

DOZEN MEDIA ranks the Online World.

Home Top Flop Categories News My.Dozen Press Room Directory Contact Us About Us

Welcome to Dozen Insurance!

For peace of mind, find out which online insurance sites offer the best protection for you and your family.
From insurance companies to online quotes, health to travel, business to blogs, we pick 12 websites for each category helping you make the right decision for the right reasons.

Carnival Cruises learns from Ship Loss

Written by SarahW|Monday, 16 January 2012 11:43

"At this time, our priority is the safety of our passengers and crew," said Micky Arison, Carnival Corporation & plc chairman and CEO. Arison commented, "We are deeply saddened by this tragic event and our hearts go out to everyone affected by the grounding of the Costa Concordia and especially to the families and loved ones of those who lost their lives. They will remain in our thoughts and prayers".

In accordance with financial disclosure and Travel insurance requirements, the company provides the following information:

The company has insurance coverage for damage to the vessel with a deductible of approximately $30 million as well as insurance for third party personal injury liability subject to an additional deductible of approximately $10 million for this incident. The company self-insures for loss of use of the vessel.
A damage assessment review of the vessel is currently being undertaken to determine how long it will be out of service. The vessel is expected to be out of service for the remainder of our current fiscal year if not longer.

Tragic Event
Carnival is deeply saddened by this tragic event and the hearts go out to everyone affected by the grounding of the Costa Concordia and especially to the families and loved ones who lost their lives.

For the fiscal year ending November 30, the impact to 2012 earnings for loss of use is expected to be approximately $85-$95 million or $0.11-$0.12 per share. In addition, the company anticipates other costs to the businesses that are not possible to determine at this time.

Carnival Corporation & plc, which is the parent company of Costa Cruises, is traded on both the New York and London Stock Exchanges.

Some of the statements, estimates or projections contained in this release are "forward-looking statements" that involve risks, uncertainties and assumptions with respect to Carnival Corporation & plc, including some statements concerning future results, outlooks, plans, goals and other events which have not yet occurred. These statements are intended to qualify for the safe harbors from liability provided by Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. We have tried, whenever possible, to identify these statements by using words like "will," "may," "could," "should," "would," "believe," "expect," "anticipate," "forecast," "future," "intend," "plan," "estimate," "target" and similar expressions of future intent or the negative of such terms.

To read more visit:

http://www.investigatemagazine.co.nz/Investigate/?p=2207

Find out more on DozenInsurance.com

Event Coverage

Events: Read the online coverage of latest and happening Insurance offers here at the event coverage section of Dozen Insurance.

Insurance Events

Insurance Reviews

Reviews: Find out which is the leading product of Insurance world and which are down. Go ahead select your category, and find our exclusive reviews,
Insurance Reviews

More News

Are you getting entangled day by day in the web of numerous insurance companies?? Don't get lost in the maze.Your search ends over here.
Dozen Insurance brings you the latest news of the Insurance world. Check out the latest offers In the form of news only at DozenInsurance's exclusive news page.

Insurance News

Travel insurance

7777iiii0000

Comments

Add New

Share our news

RSS

Twitter

Facebook

Stumble

Other News Categories

!joomlacomment 4.0 Copyright (C) 2009 Compojoom.com . All rights reserved."