Commercial pressures ‘contributed to the casualty’

Jerry Frank - Thursday 25 September 2008

AN OVEREMPHASIS on operational costs contributed to the loss of the MSC Napoli, already the most expensive casualty for the insurance industry after the Exxon Valdez disaster, writes Jerry Frank.

Andrew Joannou, chairman of claims specialist WK Webster, told marine underwriters in Vancouver that the vessel had been built to its design limits and g...