How much is the insurance of the Bayesian, the sailing ship that sank in Palermo
The BayesianThe sunken sailing ship on August 19th with 22 people on board (including 6 deaths and one missing) off the coast of Palermo, would have a insurance limit of at least 2 billion dollars. The figure, reported by the Sunreflects the type of policy that boats like this have. This is a P&I“protection and indemnity”, which covers civil liability claims, including even environmental damage. There are other insurance policies that cover damage of another nature, but P&I is the most widespread.
READ ALSO: Palermo, fifth body recovered from the wreck of the sunken sailing ship: it is Mike Lynch
With the sinking of the sailing vessel, the insurance companies involved could have to pay really high amounts: the Sun 24 Hours I estimate that there could be at least 530 million in disbursements (perhaps less in case of recovery of the vessel) to be covered. The damage assessment materials, of course, has not yet been done, but the insurance companies will take into consideration several factors: the value of the yacht (around 30 million), when it was built and whether it had been refitted (in 2008 and 2020 respectively), the type of navigation it conducted (inland, coastal or oceanic waters), the experience of the captain and crew.
How are the investigations into the shipwreck proceeding?
This information is also being examined by investigators working on theinvestigation opened by the Termini Imerese prosecutor’s office for shipwreck and multiple manslaughterat the moment against unknown persons. They will be the ones to establish who they belong to and whether there are any responsibilities behind the tragedy that struck that wealthy group of people, including Jonathan Bloomer And Mike Lynchthe owner of the Bayesian.
At the moment it seems that the shipwreck was caused by a human error committed by the captain, James Cutfield, and his crew. It appears that some of the hatches had been left open during the tornado that hit them. Or, it could have been the sea storm to cause the sinking. In any case, the insurance will have to pay the Revtomthe company that owns Bayesian and whose surviving wife Lynch, Angela Bacaresis the managing director.
READ ALSO: Perini Navi, the builder of the yacht that sank in Palermo: “The captain’s fault”
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