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Grounding of Boeing 737 Max 8 planes unlikely to hit insurers

An Air Canada MAX 8 lands at Toronto Pearson International Airport

Insurance officials said that Indian general insurers are unlikely to suffer losses related to the grounding of Boeing 737 Max 8 planes, Business Standard reported. India's Directorate General of Civil Aviation decided to ground all local 737 Max 8 aircrafts in the country on March 12 after a Max 8 aircraft from Ethiopian Airlines Enterprise S.C.'s fleet crashed on March 10. India-based airline SpiceJet Ltd. grounded 12 Max 8 planes due to safety concerns.

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