New Delhi: The fatal plane crash in Pune’s Baramati on Wednesday that killed Maharashtra Deputy Chief Minister Ajit Pawar and four others could trigger an insurance payout of Rs 50 crore.
The chartered plane, Learjet 45, carrying the NCP chief was travelling from Mumbai to Baramati. He was going to his home turf for political campaigning ahead of local elections. The plane caught fire upon landing and exploded, killing all five people, on board.
The aircraft was insured under an aviation insurance policy issued by the ICICI Lombard General Insurance. “Consistent with our prudent risk management and retention framework, the exposure under the policy is appropriately supported through adequate reinsurance arrangements. Our teams are closely coordinating with the relevant authorities and stakeholders to facilitate the claims process in accordance with policy terms and applicable regulatory requirements,” an spokesperson of ICICI Lombard said, ET reported.
Private plane insurance policy generally included Passenger Liability Insurance, covering accidental death or injury. While the insurance usually covers all passenger on board, along with the aircraft and crew, coverage amounts differ depending on the policy. Earlier on January 10, a private aircraft crash in Bhubaneshwar resulted in claims of around Rs 18 crore.