I said we should seize assets of those who are supposed to pay before they hide their assets.
Do you understand the reinsurance market?
Reinsurance Explained: What It Is, How It Works, Types
Reinsurance is "insurance for insurance companies," to ensure that no insurance company has too much exposure to a large event or disaster.
www.investopedia.com
Causation, Liability, Negligence and so forth?
Bonus points if you'd like to explain what the consequences of setting the precedence of seizing say Lloyds of London's or Chubb's assets like this.
If I cause a accident in my car I or my insurance must pay.
True, but you can bet that whether or not you actually caused the accident will be cleared up before paying, this can be anywhere from quite clear to substantially muddy.
We regularly seize accounts of cartels, oligarchs and money laundererers. Why not this?
Well maybe that ones a ones a criminal enterprise and ones just enterprise? If we find out this guy woke up and said "hey i think i'll run the ship into the bridge" I'll be right there with you and the pitchforks.
Of course any one is unlikely to get much out of the Captain....