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International

India: Higher insurance premium prices expected for aviation insurance

September 23, 2014 Reprints

Airline and insurance executives in India have said that airlines in the country will probably have to pay 20% to 25% more for insurance premiums, Mint reported.

The airlines currently have a total of $30 billion of insurance cover for their fleets.

The expected increase in prices is because of the twin Malaysia Airlines disasters and the recent attacks on airports in Libya and Pakistan.

Insurers vying for business from regional airlines include Reliance General Insurance Co. Ltd., ICICI Lombard General Insurance Co. Ltd., New India Assurance Co. Ltd. and HDFC Ergo General Insurance Co. Ltd.

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India: Higher insurance premium prices expected for aviation insurance

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