Air India brings in Reliance General for fleet insurance

New Delhi: State-run carrier Air India is believed to have roped in Reliance General Insurance, part of Anil Ambani group, as the insurer for its entire fleet.
This is the first time that the insurance cover for Air India fleet has gone to a private insurer. Till date the same was being underwritten by National Insurance companies as a consortium.
The new cover is provided by a consortium led by Reliance General Insurance with HDFC Ergo, Bajaj Allianz and Iffco Tokyo General Insurance being part of the consortium.
While Reliance General spokesperson declined to comment and Air India spokesperson was not available for comments, sources said that Air India has also paid its first premium as part of the tender process which warrants the premium to be paid to the insurance company in four installments during the tenure of the cover.
The new cover, to remain in force for one year, would come into force from midnight today and cover all 167 aircraft of Air India across the globe.
Air India is believed to have completed all formalities for the cover earlier this week and has informed all international airports of this new cover.
30/09/09 Press Trust of India/Economic Times

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Categories: NACIL Oct 2009