Experts warn that the sunken superyacht owned by Mike Lynch could result in massive costs for insurers.

Insurers of the Bayesian superyacht, which sank earlier this month resulting in the deaths of tech entrepreneur Mike Lynch and six others, may face costs of at least $150 million, according to initial estimates by industry experts.The British-flagged, 184-foot yacht, valued at approximately $40 million, capsized on August 19 after being struck by a pre-dawn storm while anchored off northern Sicily.Prosecutors in Termini Imerese, near Palermo, are investigating the incident, focusing on the captain and two crew members. The investigation, which involves potential charges of manslaughter and shipwreck, is ongoing and may take time as it includes salvaging the wreck.The yacht's captain, James Cutfield, departed Palermo on a private jet on Thursday, although his destination remains unknown. Cutfield, a New Zealand native, resides in Palma, Mallorca, with his wife.The yacht’s hull was insured by yacht insurance provider OMAC and a consortium that includes Travelers Companies Inc., Navium Marine, and Convex. Its protection and indemnity (P&I) insurance, covering third-party liabilities such as environmental damage, injury, and death, was provided by British Marine.