Insurance news likely will not change due to MH370 aircraft piece discovery

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The discovery of the piece of the missing aircraft is “unlikely to affect” the coverage situation for claims. Many have been waiting to hear the latest insurance news following the discovery of the piece of the missing Malaysia Airlines Flight 370, and what has been determined by the industry is that it is very unlikely that any of this finding will change the result of the claims. The negotiations over the insurance payments to many affected parties will likely not be altered. What this insurance news has shown is that…

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Airline liability insurance may be unlimited in Germanwings crash

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The subsidiary of Lufthansa could be facing claims in the multi-million dollar range, well above the usual cap. Germanwings, the subsidiary of Lufthansa that saw one of its jets fly into a mountain in the Alps, could be facing larger airline liability insurance claims than are typical in this type of scenario, according to some lawyers in the aviation industry. Whether or not a cap will remain in place will greatly depend on whether the airline is seen as negligent. According to prosecutors in the case, the young co-pilot from…

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Airline insurance for crashed AirAsia plane likely to be well over $100 million

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The jet is the third major airline accident that has happened in 2014, two of which have been in that part of the world. The AirAsia jet that had gone missing and that was recently found crashed in the sea off the coast of Borneo could bring about claims that will be at least $100 million, and this exposure will be placed on Allianz SE, which is the reinsurer for the airline insurance. Tragically, the flight had 162 people on board when it went missing off the Indonesian coast. Allianz…

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Airline insurance with 15 percent higher premiums renewed by Air India

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This is providing the company with a $26.75 million policy to protect itself against major tragedies. Air India has managed to be able to renew its airline insurance with a mere increase of 15 percent in the premiums that it pays in order to be able to cover its complete fleet of 132 total aircraft. This is notable when taking into consideration that this is an insurance market that has experienced a considerable hardening. The reason that airline insurance usually entails a notably higher rate upon renewal is that it…

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Airline insurance premiums could triple after crashes

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This year has been a catastrophe for global aviation, with numerous tragic disasters after a long span of calm. Since the start of 2014, there has been a tremendous number of tragedies when it comes to aircraft crashes, and it is now believed that the airline insurance industry will be considerably increasing its rates in order to reflect the changing trends. Aviation continues to be considered among the safest forms of transport, but this year has been a bad example of that. Airline insurance, which has not had a great…

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Insurance news suggests upcoming struggle for Malaysia Airlines

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Still reeling from the tragedy in March 2014, it is now facing new claims from the devastating crash in Ukraine. As Malaysia Airlines faces yet another heartbreaking catastrophe as one of its jetliners was shot down in Ukraine, insurance news headlines are now suggesting that this latest disaster could bring about compensation claims that could total hundreds of millions of dollars. It is also likely that the struggle faced by the carrier will extend beyond the cost of compensation. It looks as though the crash of flight MH17 will make…

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Insurance claims from Malaysia Airlines Flight 370 expected to be small

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A new analysis by Standard & Poor’s has shown that insurers and reinsurers will find losses manageable. Standard & Poor’s Corp. has now issued the results of an analysis regarding the insurance claims that are expected to arise from the loss of flight 370 of Malaysia Airlines, and they have stated that they will more than likely be manageable for both insurers and reinsurers. They have predicted that the disappearance of the plane will generate insured losses of $250 million to $450 million. The final total regarding these insurance claims…

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