Mumbai: Kingfisher Airlines (KFA) has renewed its annual insurance policy without much hassle as premium rates fell by 37% for its insurance policy, mainly due to the abundant capacity in the reinsurance market. The policy is insured primarily with ICICI Lombard, which is the lead insurer, while Bajaj Allianz, SBI General and IFFCO TOKIO are part of the consortium.
According to a source close to the development, premium rates have come down 37% to 43 crore ($9.5 million) in 2011-12, lower from 60 crore ($15 million) paid in FY11.
"Premium rates have not gone up. This is despite the increase in the number of aircraft during the past one year, increase in landing and increase in passengers. There were not any major claims made by the aviation company," the source revealed.
31/08/11 Shilpy Sinha/Economic Times
To Read the News in full at Source, Click the Headline
0 comments:
Post a Comment