Mangalore crash: AI gets $50m insurance claim

Mumbai: Air India has received the entire $50-million in insurance claims on account of Mangalore aircrash Boeing 737 aircraft hull loss. While about 60% of the amount had been paid earlier, the remaining $20 million was paid last Thursday.
Air India Express Boeing 737 landed in Mangalore airport on May 22 morning,overshot the table-top runway only to fall into a gorge and burst into flames killing 158 people on board. Hull total loss insurance provides cover in the case of a total loss of the insured aircraft when it is damaged to such an extent that it is beyond economic repair or has been totally destroyed. The cover provides indemnity for the additional expenses that are incurred by operators in replacing a lost aircraft. The payment was made by a consortium led by Anil Ambani group firm Reliance General Insurance and also comprising Bajaj Allianz, Iffco-Tokio and HDFC Ergo.
17/08/10 Times of India

To Read the News in full at Source, Click the Headline

Categories: Air India Budget Aug 2010, airports aug 2010, NACIL Aug 2010, Safety Aug 2010