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Insurance news suggests upcoming struggle for Malaysia Airlines

July 21, 2014July 19, 2014 G. Turner

Malaysian Airlines - airline insurance news

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…

Insurance claims from Malaysia Airlines Flight 370 expected to be small

April 4, 2014April 12, 2014 Julie Campbell

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…

Airline insurance for Malaysian Airline could be affected by hurt reputation

March 13, 2014March 10, 2014 Julie Campbell

The missing Flight 370 aircraft may lead to serious struggles in the struggling carrier’s future. When it comes to airline insurance on a broad scale, the costs have been steadily dropping over the years as problems have become decreasingly common and crashes of any major sort have simply not been happening. Malaysian Airline System could be facing its own coverage issues following the disappearance of its plane. Flight 370 was carrying 239 people when it disappeared along its path from Kuala Lampur, Malaysia, to Beijing China. This type of situation,…

War risk insurance extension granted by Obama

January 1, 2014December 30, 2013 G. Turner

This coverage availability has been extended throughout 2014 for airlines by the president. The American government coverage that provides airlines with guarantees against perils related to war and terrorism, war risk insurance, has been extended until the end of 2014 by President Obama. This coverage has been extended for four different carriers that would have lost their protection at the end of 2013. President Barack Obama has granted an extension for the airline war risk insurance for as long as one more year. He made this decision while he was…

Airline insurance becomes more affordable with reduced crashes

May 10, 2013May 25, 2013 H. Cutner

These companies will benefit from lower rates that are possible because the claims have become less expensive. For the third year in a row, the premiums for airline insurance are on their way down as the direct result of increased insurer competition and reduced incidences of crashes so that claims stay low. In fact, claims have fallen by a considerable 20 percent within the last year, making coverage less costly. According to a report from Aon Risk Solutions, the claims for airline insurance fell last year by 20 percent, to…