If there is a silver lining to the Costa Concordia cruise ship disaster, it may be that insurance companies will demand tighter regulations for the industry. If this happens and it is successful, it may lead to fewer maritime accidents and disasters.

As Lake Charles residents will recall, the Costa Concordia is a cruise ship owned by the Carnival Cruise line that capsized off the coast of Tuscany on Jan. 13. Seventeen people were killed and 15 more remain missing.

Although investigators are still looking into the disaster, it seems human error may be to blame; it has been alleged the captain was not as attentive as he could have been and did not steer the ship away from a rocky shoal. He has been placed under house arrest and is facing multiple charges of manslaughter, causing a shipwreck and abandoning ship.

Understandably, plaintiffs are lining up to sue Carnival Cruise Lines. One attorney estimated that survivors will receive between $100,000 and %150,000 million for their ordeal and the families of those who were killed would look for between $1 and $3 million in compensation.

Those are just estimates, but still, it is unlikely that Carnival Cruise Lines and its insurer will get out of this cheaply. Experts have noted this will probably prompt insurers of other cruise lines to demand tighter adherence to safety policies and higher standards. It would have been better had there not been a disaster like this at all, but at least there is one good potential outcome from the sad affair.

Source: Reuters, "Italy cruise lawsuits will force higher standards - lawyer," Phillip Pullella, Feb. 9, 2012