CIAL undecided on raising insurance cover

Kochi: Even as major airports in Delhi and Mumbai are mulling over the raising of the terrorism insurance cover from Rs 1,000 crore to Rs 2,000 crore in the wake of Mumbai terrorist attack, the Cochin International Airport Limited (CIAL) is still in a dilemma on the issue.
According to airport officials, the CIAL had not taken a decision so far as the premium amount would be very high because of the rising threat perceptions.
CIAL director A C K Nair said that the airport already had an insurance cover of all its assets.
``Our insurance policy also has terrorism insurance cover,’’ he said. ``Our total asset value is over Rs 350 crore and we have taken an insurance cover to the tune of Rs 350 crore,’’ an official of the CIAL said refusing to divulge more details.
As per certain media reports, Delhi and Mumbai airports had been facing the problem of paying higher premiums.
Industry experts had said that in India, the common terrorism insurance pool was around Rs 1,200 crore.
06/01/09 ExpressBuzz

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Categories: Airports Jan 2009