Catlin Lead Insurer For Fatal Pakistan Crash
Bermuda-based Catlin Group Ltd. is the lead insurer of the Airblue jet that crashed last Wednesday in Pakistan, killing all 152 people aboard. A spokesman for the company confirmed that the insurer is the lead underwriter, but he would not say what percentage of the risk that the insurer covers.
It is reported that the insurance is expected to compensate the airline on account of the loss of its plane, with some estimates of the hull value of the Airbus at $35 million. The hull value includes instruments, radios, autopilots, wings, engines, and other equipment attached to or carried on the plane as described in the policy.
Compensation is expected to be paid out to the victim’s families. Pakistani press quote an airline official as saying that it “may take some time because the process to identify the deceased was still incomplete”. He said the next step would be identification and determination of who would receive the compensation, and that amounts for a child, adult and a foreigner were different.
Of the passengers, 110 were men, 29 were women, 5 were children, and 2 were infants. The vast majority of the victims were Pakistani nationals, with two Americans, one Austrian and one Somalian on board. The bodies of 102 people have been returned to their families and 62 relatives have given blood that is now being used to DNA test other remains in a bid to positively identify them, the airline said.
The plane crashed on July 28th, 2010 near Islamabad, the capital of Pakistan, killing all 146 passengers and 6 crew aboard, making it the deadliest air accident to ever occur in Pakistan. The video below shows responders searching through the wreckage:
A statement on Airblue’s website stated that “Airblue, with great sadness, announces the loss of flight ED 202 inbound from Karachi to Islamabad. The flight crashed during poor weather and thick fog. We regret the loss of life and are investigating the exact circumstances of this tragedy. This will be presented as soon as possible.” The statement continued that “our hearts go out to the families and loved ones of the passengers and crew.”
The Associated Press of Pakistan stated that the President of the Pakistan Air Lines Pilots Association, told a television station that pilot fatigue may have played a role in the accident. He said that “the pilot may be suffering from accumulated fatigue because they [Airblue flight crew] are not given adequate leave.”
The crash was part of a week of tragedy for Pakistan where massive flooding caused by torrential rains have claimed at least 1,100 lives to date.
