By Cherri Gregg and Walt Hunter

PHILADELPHIA (CBS) — The duck boat civil trial is officially over, and lawyers for the victims announced that they have reached a settlement that is far above the $1.8 million cap set by a 160-year-old maritime law.

Ride the Ducks’ President, Chris Herschend, expressed condolences to the families of the two victims, and reiterated the company’s commitment to safety.

Attorney Robert Mongeluzzi, who represented the families, says they will receive $15 million of the settlement, and the remaining two million will be split among the survivors. Although Mongeluzzi says no amount of money can replace the loss of two only-children, they are hoping publicity of the case sparks changes.

“Duck boats with canopies are deathtraps. If you wear your life preserver and it goes down, you’re likely to get trapped. If you don’t wear your life preserver, you’re likely to drown.”

Mongeluzzi says the families of the victims have requested that the City of Philadelphia erect a memorial on Penn’s Landing, so that they can come to mourn the loss of their children.