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As Italian courts consider a plea deal from the captain of the Costa Concordia, and salvage crews engineer the removal of the cruise ship, U.S. Ocean Marine insurers say the operation could cost up to $2 billion.

British insurer Lancashire said it expected to return cash to shareholders this year as it reported a 33 percent drop in its quarterly profit, blaming bigger payouts related to the Costa Concordia shipwreck and dwindling investment returns.

Bermuda insurers and reinsurers reported strong first-quarter earnings relative to a year ago, with several swinging back into the black after reporting Q1 losses in 2011.

The recent high-profile Costa Concordia tragedy shed light on perils at sea, but there is also plenty of danger closer to home.

Some survivors have refused Costa Cruises' initial $14k offer, instead filing suit in southern Florida court.

A look at how the Costa Concordia wreck and the resultant liability claims may impact the global marine insurance industry.

A look at how the Costa Concordia wreck and the resultant liability claims may impact the global marine insurance industry.