Insurers hurting after Air France disaster
The Air France crash that killed 228 people is expected to be the most costly airline disaster for insurers since 2001.
The airline’s pool of insurers, including Axa, Allianz and AIG, will have to compensate victims’ families at least $US150,000 ($183,000) each and pay for the loss of the plane.
The cost to insurers will also depend on the travellers’ predicted lifetime earnings and any negligence by Air France.
Head of Aviation Insurance at Munich Re Roman Beilhack has told international media an increase in fatal and costly airline crashes this year will force major fleet insurance rates up at least 20% on average.
The airline’s pool of insurers, including Axa, Allianz and AIG, will have to compensate victims’ families at least $US150,000 ($183,000) each and pay for the loss of the plane.
The cost to insurers will also depend on the travellers’ predicted lifetime earnings and any negligence by Air France.
Head of Aviation Insurance at Munich Re Roman Beilhack has told international media an increase in fatal and costly airline crashes this year will force major fleet insurance rates up at least 20% on average.