Insurance companies are bracing for losses as a possible Emirates plane crash-landed and caught fire early Wednesday at Dubai International Airport.
Chubb was the lead insurer around the jet, industry publication Insurance Insider revealed. The hull worth of the Boeing 777 plane is $90.4 million, with $6 million for increased expense of working. The policy was placed by Willis.
The effect with the crash on Chubb was blunted somewhat, as being the craft carried one in the lowest hull values inside Emirates fleet.
The plane was flying to Dubai in the southern Indian state of Kerala if this crashed. All 300 people agreeable were able to escape, though one firefighter perished inside blaze.
The exact cause in the crash is unknown, though some reports suggest the crew were building a normal approach when air traffic controllers said to abandon the landing and begin climbing again, for unknown reasons.
Flight EK521, direct from Thiruvananthapuram to Dubai, is well-liked by Kerala residents who work from the Gulf countries, the BBC reported.
The incident comes amid several recent losses inside aviation space, including crashed EgyptAir Flight 804, missing Malaysia Airlines flight MH370 and also a 2015 Germanwings flight ended by pilot suicide.
This combination of aviation disasters has cast a pall on the insurance market, with carriers facing annual losses exceeding $2 billion, including liability and hull losses supposed to amount to a couple of hundred million dollars.
The effect with the crash on Chubb was blunted somewhat, as being the craft carried one in the lowest hull values inside Emirates fleet.
The plane was flying to Dubai in the southern Indian state of Kerala if this crashed. All 300 people agreeable were able to escape, though one firefighter perished inside blaze.
The exact cause in the crash is unknown, though some reports suggest the crew were building a normal approach when air traffic controllers said to abandon the landing and begin climbing again, for unknown reasons.
Flight EK521, direct from Thiruvananthapuram to Dubai, is well-liked by Kerala residents who work from the Gulf countries, the BBC reported.
The incident comes amid several recent losses inside aviation space, including crashed EgyptAir Flight 804, missing Malaysia Airlines flight MH370 and also a 2015 Germanwings flight ended by pilot suicide.
This combination of aviation disasters has cast a pall on the insurance market, with carriers facing annual losses exceeding $2 billion, including liability and hull losses supposed to amount to a couple of hundred million dollars.
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