AI to get $20 million towards Mangalore crash insurance claims

New Delhi: National carrier Air India is likely to get about USD 20 million (close to Rs 90 crore) this week towards the final installment of insurance claims arising from the Mangalore crash earlier this year.
Insurers have already paid 60 per cent of the total hull losses, which was estimated at USD 50 million (about Rs 230 crore), while AI will receive the balance 40 per cent by this week, industry sources said.
Hull loss liability is different from passenger liability and relates to damage to the aircraft.
The payment is being made by a consortium led by Anil Ambani group firm Reliance General Insurance and also comprising Bajaj Allianz, Iffco-Tokio and HDFC Ergo.
Besides, the insurers have already paid Rs 15 crore towards passenger liability as interim compensation announced by AI soon after the crash of its Air India Express flight from Dubai on May 22.
The final payment towards passenger liability will be completed after assessment by legal firms appointed by airline and insurers, sources said.
11/08/10 PTI/Times of India

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