Page 25 - Insurance Times April 2019

Aviation Insurance

AIRCRASH

AND CLAIMS

MANAGEMENT

Introduction:- resulted into airline of most of countries suspending the use
of Boeing 737 Max 8 Aircrafts in their fleet.
On 3rd March 2019, Sunday, the Ethiopian Airline’s Addis
to Nairobi Flight’s Boeing 737 MAX 8 crashed after a few
minutes of takeoff killing 157 people aboard. China, India Brazil, Mexico, Panama, USA and Europe all
with safety of flying passengers as priority took policy
The Black Boxes of this Aircraft were found on 13th march decision to ground Boeing 737 Max 8 from their fleet as pre-
2019 – ten days after the crash. The Ethiopian Airlines does emptive step.
not have technical capability to analyse information from
the Black Boxes. These are being analyzed by the French The U.S. Federal Aviation Administration (FAA) cited satellite
Experts. data with evidence from the scene of Sunday Air crash near
Addis.
This incidence involving the same model happened first by
Aircraft Crash of the Lion Air Line of Indonesia killing 189 The Aircraft Manufactures Boeing have lost market value of
people aboard on October 2018. their stocks by US$ 26 MLNS as on date and may suffer further
declines. Last week the Boeing were to launch 777X Aircraft
These events of Aircraft crash of Boeing 737 Max 8 have which can carry 425 passengers and were scheduled to make
its debut to the world on 13th March 2019. This debut is
About the author cancelled. The Boeing 737 Max deliveries are held back.

K. L. Naik Now there may be interesting developments of Claims
Director Naik Consultancy & Management arising out of the Aircrafts air crash killing
Advisors L.L.P hundreds of passengers including Crew Members. Air Liner’s
Mumbai Liability is fixed as per Montreal Convention of 1999 or
Warsaw Convention of 1929.

The Insurance Times, April 2019 25