Italian naval divers used explosive charges to blow a hole in the hull of the Costa Concordia in an effort to rescue passengers and staff from the sinking cruise ship.

Costa Cruises’ vessel, the Costa Concordia, departed from Civitavecchia, Italy on January 13 with approximately 3,200 passengers and 1,000 crew members on a seven-day voyage.  At 10:00 pm, the vessel struck rock off the coast of Isola del Giglio, Italy and sustained significant damage causing the ship to list. The order was given to abandon ship and deploy the lifeboats.

There are reports of at least 11 deaths, dozens of injuries and possibly 29 passengers and crew listed as missing.  Carnival alleges that the ship’s captain, Francesco Schettino, struck a rock formation off the island of Giglio when he too an unauthorized detour from the route provided to him by the cruise company.

Carnival Corporation says it has insurance coverage for damage to the vessel with a deductible of approximately $30 million as well as insurance for third party personal injury liability subject to an additional deductible of approximately $10 million for this incident.