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Member, Beacon International Group, Ltd.
SAO PAULO, Brazil--New York-based American International Group Inc. leads the liability and hull insurance program that would respond to losses arising from the crash of a TAM Linhas Aereas S.A. passenger jet in Sao Paulo, Brazil, according to sources. The crash killed 189 people on the plane and on the ground.
A brokerage unit of New York-based Marsh & McLennan Cos. Inc. placed the coverage for Sao Paulo-based TAM, Brazil's largest airline.
The TAM Airbus 320, which was en route from Porto Alegre, Brazil, crashed Tuesday evening while trying to land in rainy conditions at Congonhas Airport in Sao Paulo.
After skidding off its runway, the jet slammed into a TAM cargo building and exploded, killing all 186 passengers and crew on board plus three TAM employees in the cargo building, an airline spokeswoman said.
In addition, five TAM employees are missing, and 11 more were hospitalized, she said.Authorities are investigating the cause of the crash.