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

AirAsia airline insurance plane
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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 for Malaysian Airline could be affected by hurt reputation

Malaysian Airlines - airline insurance news

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,…

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War risk insurance extension granted by Obama

airline insurance war risk policy

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…

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Airline insurance becomes more affordable with reduced crashes

airline insurance war risk policy

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…

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