Baramati plane crash triggers massive insurance payout
India
The recent plane crash near Baramati that took the lives of Maharashtra Deputy CM Ajit Pawar and four others could result in an aviation insurance payout.
The Learjet 45 was insured by ICICI Lombard for about ₹50 crore, but with both aircraft damage and compensation for passengers, the total claim could reach ₹55 crore.
How the insurance works
ICICI Lombard won't be footing the entire bill alone—big reinsurance partners like Munich Re and GIC Re will help cover most of it, possibly recovering up to ₹45 crore.
The company says all claims will follow Indian aviation rules, which set compensation at around ₹1 crore per passenger.
This case is drawing comparisons to last year's Air India crash, highlighting how major accidents put pressure on insurers.