A 16-year prison sentence for the former captain of the Costa Concordia

More than four years after the sinking of the Costa Concordia, on January 13, 2012 near the island of Giglio (Italy), Florence Appeal Court has sentenced the captain of the ship, Francesco Schettino, to 16 years' emprisonment. F. Schettino was recognized civilly liable for manslaughter, abandonment of ship before the evacuation and sinking operations.

The investigation has revealed that the cruise commander wished to be as close as possible to the shore to greet the people. A maneuver that cost the lives of 32 people, injured 110 others and caused the most expensive shipwreck in history.

Allianz Global Corporate & Specialty has advanced an amount of 2 billion USD in losses borne by insurers, excluding the costs of removal and dismantling of the wreck which have not yet been completed.