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A 2011 staged pirate attack on a Greek cargo vessel was an outlandish attempt to collect an insurance payment. These extreme fraud claims pose a legitimate threat to marine underwriters.
A dispute delaying Panama Canal construction was resolved, but further delays could be costly to shippers and exporters.
Floating plants have advantages over grounded facilities and few unique risks.
Insurance foots the bill for the largest marine recovery project in history.
In raising the Costa Concordia, we have a story showing what insurance does so well.