How will the loss of Air India compensation, how much claim will be received from the aircraft insurance
Ahmedabad The death of 241 out of 242 people in Air India, who was victims of the accident, has been confirmed. A UK citizen survived in this accident, which is no less than a miracle. Within minutes of taking off from Ahmedabad Airport, the aircraft crashed into a residential area. The aircraft collided with the hostels of doctors near the airport, causing 56 people living in the hostel. The death of 297 people has been confirmed so far in this painful accident.
Tata Group announces compensation
Apart from 12 Indian crew members, the aircraft had 169 Indian passengers, 53 British passengers, 7 Portuguese travele and 1 Canadian passenger. Air India parent company Tata Group has announced a compensation of Rs 1-1 crore to those killed in the accident. Along with this, the company has said that they will also bear the entire expenses for the treatment of the injured. Let us tell you that this aircraft accident has joined the world’s largest and terrible aircraft accidents.
Was the aircraft insured
Amit Aggarwal, Managing Director (MD) and Chief Executive Officer (CEO) of Brokerage firm Houden (India), said that the damage to the aircraft in the accident would be covered under the section that insures the current assessment of the aircraft, which also includes palpas and equipment. He said that for Dreamliner, its structure, age and other factors, this price could be between $ 21.1 million to $ 28 million.
When was the insurance of Air India aircraft insurance
Amit Aggarwal said, “The concerned aircraft (VT-ABN) was of the 2013 model and based on the available information, it was insured in 2021, whether the damage, whether the damage or complete, the loss will be covered based on the price announced by the airline.” According to Narendra Bharindwal, president of the Insurance Brokers Association of India (IBAI), aviation insurance programs for a major airline like Air India are arranged on the basis of fleet and re -reinforced in international markets such as London and New York.
Does the same insurance company take risks
He said, “No one insurer takes the entire risk. Coverage is widely distributed among global rebels, which has a small stake of 1.5 percent to 2 percent and a major reinforcement usually takes 10–15 percent. Financial effects of such incidents are shared globally in this network.”
With PTI inputs
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