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Environmentalists are on edge as the Costa Concordia cruise liner, which crashed on the Italian island of Giglio two-and-a-half years ago, is dragged through 200 nautical miles of the Mediterranean Sea.

Two-and-a-half years after the Costa Concordia ran aground off the coast of Giglio, Italy, the ship is floating again.

The Costa Concordia was uprighted in a 19-hour effort by engineers from across the globe on Sept. 17. Click to see images of the ship and its ongoing investigation.

Engineering teams on the Italian island of Giglio began lifting the wrecked Costa Concordia liner upright on Monday in one of the most complex and costly maritime salvage operations ever attempted.

Watch a live stream of the attempt to right the Costa Concordia cruise ship off the coast of the Italian island of Giglio.

The financial stakes for insurers will be almost as enormous as the awe-inspiring feat of engineering when the wrecked Costa Concordia is uprighted next week.

Insurance industry payouts related to last year's sinking of cruise liner Costa Concordia have continued to rise and are likely to top $1.1 billion as salvaging of the wreck continues, reinsurer Munich Re said on Tuesday.

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.