The plane, insured for hull and equipment by ICICI Lombard Basic Insurance coverage, was making an attempt to land at Baramati airport when it crash-landed. Claims associated to passenger legal responsibility and private accident cowl are often dealt with individually, both below aviation insurance coverage insurance policies or by way of particular person preparations similar to premium bank cards, the individuals stated.
“The plane was insured below an aviation insurance coverage coverage issued by ICICI Lombard,” stated an ICICI Lombard spokesperson. “Per our prudent threat administration and retention framework, the publicity below the coverage is appropriately supported by way of ample reinsurance preparations. Our groups are intently coordinating with the related authorities and stakeholders to facilitate the claims course of in accordance with coverage phrases and relevant regulatory necessities.”
That is the second aviation insurance coverage declare in India this month. On January 10, a nine-seater non-public plane working between Rourkela and Bhubaneswar met with an accident, leading to claims of about ₹18 crore, stated one other individual.
