Indian insurance policy vendors hope that coverage cost up to 30% for airlines after a deadly aviation accident in more than a decade.
Director of Indian Broker Sajjja Praveen Chaudhary Policy market indiaPremium for plow, war-rising and liability coverage in the next renewal cycle is expected to increase by 10% to 30%. Rohit Boda, the group managing director in the broker Jebiboda Group, predicts an increase of 10% to 25%.
The premium hike of that scale will be bigger than previous accidents, which Air India Accident, brokers said. The accident killed 241 and dozens of dozens on the board when he collapsed in a residential area in Ahmedabad city on 12 June.
In view of accident South Korea According to the UK-based rehabilitation, two of the 181 passengers were left last year, but the premium growth was within 15% to 18%.
Bloomberg News earlier reported that insurance claims for Air India crash are expected to be within a radius of $ 475 million, including additional liability for the loss of life with the aircraft hull and engine. Air IndiaAccording to policy market data, the fleet is insured with an annual premium near $ 30 million for a total of $ 20 billion.
“The devastation of this scale will contribute to hardening the global rates,” said Chaudhary, director of the policy, for the business.
Globally, the crash is responsible for a majority of $ 15 billion Aviation According to a report by Allians SE, the claims ended in 2024 during a five -year period. According to the report, fuel growth by Asia-Pacific and North America, Asia-Pacific and fuel by North America were expected.
Insurance premium growth will be for all airlines, people familiar with the matter who did not recognize to discuss private matters. He said that the effect would be revived to airlines worldwide.
People said that the premium growth is expected to be large, and further loss of aircraft may drive a premium in a record.
