The AI flight which crashed in Karipur | Photo: Mathrubhumi
Kozhikode: Insurance companies will shell out Rs 660 crore as compensation in connection with the Karipur flight crash.
This is the highest amount of insurance claim recorded in the history of Indian aviation. Indian Insurance companies and global reinsurers will jointly release the fund.
Out of the total insurance claim, Rs 378.33 crore will be released as hull claim to compensate for the damages to the aircraft. Rs 282.49 crore will be granted to the passengers.
A group of insurance companies are entitled to release the insurance amount to Air India. Among these companies, New India Assurance, a public sector firm, is the primary insurer. At the same time, the major share of the insurance claim will be released by global reinsurers.
New India Assurance has granted Rs 3.5 crore as primary compensation to the passengers. Rest of the amount will be released after examining the details.
The flight mishap in Karipur airport took place on August 7. The Air India Express flight returning from Dubai under the 'Vande Bharat' mission skidded off the runway at the 'table top' airport in Kozhikode. 21 people were killed in the crash while many were injured.
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