Mumbai: By leveraging its tie-up with Etihad Airways, Jet Airways has managed to keep its insurance premium flat at a time when foreign reinsures have increased the premium for underwriting aviation covers due to a series of accidents across the world in the last several months.
The insurance cover renewal of Jet Airways coincided with the insurance policy renewal of Etihad Airways, the domestic carrier managed to bargain as a group and keep its insurance cost low while renewing its policy with domestic insurance companies. Jet Airways renewed its policy for 2014-15 on November 22, 2014 for a premium of around $6.5 million for a total sum insured of $5.11 billion. The fleet size at policy inception was 106 aircrafts while at the time of expiry was 99 aircrafts. The sum insured at expiry stood at $4.87 billion. Jet Airways bought Hull, Spares and Liability All risk policy, Hull War Liability cover, Hull Deductible and Excess War Liability covers.
21/12/14 Falaknaaz Syed/mydigitalfc.com
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The insurance cover renewal of Jet Airways coincided with the insurance policy renewal of Etihad Airways, the domestic carrier managed to bargain as a group and keep its insurance cost low while renewing its policy with domestic insurance companies. Jet Airways renewed its policy for 2014-15 on November 22, 2014 for a premium of around $6.5 million for a total sum insured of $5.11 billion. The fleet size at policy inception was 106 aircrafts while at the time of expiry was 99 aircrafts. The sum insured at expiry stood at $4.87 billion. Jet Airways bought Hull, Spares and Liability All risk policy, Hull War Liability cover, Hull Deductible and Excess War Liability covers.
21/12/14 Falaknaaz Syed/mydigitalfc.com
