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Ethiopian accident: historic compensation claims?

It could be a blow to the industry

The requests for compensation that could arrive on the Boeing table and not only could be the biggest in the history of civil aviation, so much so that according to the broker Willis Re there could also be serious repercussions on the reinsurance companies that could lose profitability to cover the expenses. It was explained by company president James Vickers who pointed out that claims for compensation from the relatives of the 157 people who died "could amount to about $ 1 billion". A figure that in part would be paid by insurance companies, but also by reinsurance companies which would lose the advantages of having invested funds in policies for passengers, usually reliable and subject to minimal risk.

These figures could also be added to the damages paid to Boeing, which if found guilty of jeopardizing the safety of air transport, would be forced to pay considerable sums towards the victims' relatives. Not only, however, those of the Ethiopian Airlines accident, but also of the 189 of Lion Air's B-737 MAX 8 crashed last October 29th.

M/A - 1220395

AVIONEWS - World Aeronautical Press Agency