New Delhi
The insurance claim of the plane accident in Ahmedabad, Gujarat on Thursday may be the most expensive insurance claim in India’s aviation sector. 241 passengers and members of the cabin crew were killed in the accident. According to an estimate, the liabilities can range between 211 million to 280 million dollars, which is equal to Rs 2400 crore.
Air India’s Boeing 787-8 Dreamliner aircraft flew from Sardar Vallabhbhai Patel International Airport in Ahmedabad at 1:38 pm. The plane crashed within 32 seconds of flying. The passengers of the aircraft included 169 Indian citizens, 53 British citizens, 7 Portuguese citizens and a Canadian citizen. Only one British-Indian passenger Vishwash Kumar Ramesh survived in the accident.
According to media reports, according to Ramaswamy Narayanan, Chairman and Managing Director of General Insurance Corporation (GIC), the insurance policy of the airline’s fleet usually covers risks such as aircraft structures, spare parts, passengers and liabilities towards third party.
In the case of Dreamliner accident, claims are expected to be made under both sections, as the Boeing was converted into fire. Hundreds of people were killed in this accident. At the same time, Hourden India CEO and MD Amit Aggarwal said that the evaluation of insurance would depend on age, configuration and other factors and will be between $ 211 million to $ 280 million.
The Dreamliner (VT-Abn) involved in the accident was the 2013 model and was insured in 2021. Aggarwal said that whether the loss is partial or complete, the loss will be compensated on the basis of the price declared by the airline.
Compensation for passengers will come under the 1999 Montreal Convention, which India signed in 2009. Compensation will be calculated under SDR, which is currently valued at 1,28,821 SDR or about $ 1,71,000, which is Rs 1.47 crore.
In addition, third party property loss liability and loss of life and property at the accident site will also be counted. The Tata group on Thursday announced a compensation of Rs 1 crore to the families of each passenger who lost their lives in a plane crash.
