🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
✕
Login
Home
News
Messages
Startup Showcase
Trackers
Premium
Premium Content
Jobs
Notifications
Settings
Try our Valuation Calculator →
Log In
News on Medial
Air India crash could trigger $475 million in claims; insurance cover hiked weeks before
Economic Times
·
29d ago
Medial
The Air India Boeing 787-8 that crashed near Ahmedabad, killing 270, saw its insurance cover increased by ₹100 crore weeks before the incident. Total insurance claims could reach $475 million. Indian insurers will cover about ₹100–150 crore, with global reinsurers bearing most costs. The policy covers Air India’s fleet, worth ₹8,000–₹10,000 crore, with premiums at ₹250 crore. IRDAI has fast-tracked claims, with payments to victims' families under the Montreal Convention.
View Source
1
Related News
Air India faces Rs 1,000 cr liability as legal claims mount after AI171 crash - The Economic Times
Economic Times
·
1m ago
Medial
Following the Air India AI171 crash, the airline initially offered ₹1 crore compensation per deceased, but legal obligations under the Montreal Convention potentially require payouts up to ₹1.6 crore per victim. Families might pursue additional claims based on lost income and companionship damages. Liability exceeds ₹1,000 crore, encompassing compensation, property damage, and operational disruptions. Air India's insurance should cover substantial costs, but if claims surpass coverage, financial repercussions could be severe. Legal proceedings might also occur internationally for foreign victims.
View Source
Air India plane crash: At $120 million+, insurance claim to be costliest for Indian aviation
Economic Times
·
1m ago
Medial
A catastrophic crash involving an Air India flight could lead to a record $120 million insurance claim, marking the most expensive claim in Indian aviation history. The loss includes an estimated $80 million hull and $30-50 million in passenger liability, potentially exceeding $100 million due to high-net-worth individuals onboard. The aircraft was covered under a global reinsurance program, with Indian insurers retaining less than 10% of the risk. This incident may influence future aviation insurance costs globally.
View Source
Air India board gave CEO Campbell Wilson a raise days before the crash
Livemint
·
22d ago
Medial
Air India's CEO, Campbell Wilson, received a 46% salary increase to up to ₹27.75 crore, effective April 2025. This significant pay hike, which ties 60% of his salary to the airline's performance, was approved two weeks before a tragic crash involving an Air India flight from Ahmedabad to London on June 12. Wilson joined Air India in July 2022 and was initially promised a salary of up to ₹21.50 crore.
View Source
IndiGo in for a crash course in surge in insurance costs
Economic Times
·
1m ago
Medial
IndiGo airlines, India's largest carrier, anticipates a significant rise in aviation insurance costs due to increased geopolitical risks and reduced reinsurance capacity after an Air India crash. Operating 437 aircraft insured for a total hull value of $20 billion, the carrier faces rising liability claims and potential premium hikes. The geopolitical climate and recent conflicts, like Iran's airspace closure, further impact war risk rates, affecting overall insurance policy renewals and coverage beyond affected regions.
View Source
Uber offering ₹7,500 cover for missed flights due to Mumbai jams? Here's what we know
Business Today
·
4m ago
Medial
Uber offers a Missed Flight Connection Cover in Mumbai, compensating passengers ₹7,500 for missed flights due to road delays. The cover costs an additional ₹3 per ride and is underwritten by Reliance General Insurance. To qualify, 'airport' must be the destination when booking, and the cover includes outpatient and medical expenses in case of accidents. Claims require a form, booking details, flight ticket, airline confirmation, and a crossed cheque for NEFT.
View Source
Ahmedabad plane crash: Engines lost power at critical stage, says ex-Air Force chief Arup Raha
Economic Times
·
1m ago
Medial
A recent Air India plane crash near Ahmedabad is believed to have resulted from a significant power loss in the aircraft's engines at a critical stage, according to former Air Chief Marshal Arup Raha. The cause could involve issues like fuel contamination or software glitches, but sabotage is deemed unlikely. The incident saw the Boeing 787-8 Dreamliner crash into buildings shortly after takeoff, claiming 241 lives. An investigation by the Directorate General of Civil Aviation is underway.
View Source
Tesla trial over Autopilot fatality kicks off in California
Economic Times
·
1y ago
Medial
The trial in a California state court over allegations that Tesla's Autopilot feature caused a fatal crash is set to begin. The lawsuit claims that the Autopilot system caused the vehicle to veer off the highway, leading to the death of the owner and serious injuries to passengers. Tesla denies liability, stating that the driver had consumed alcohol before the accident. This trial could have implications for similar cases involving autonomous driving technology.
View Source
DGCA orders Air India to conduct immediate checks of all Boeing 787-8/9 aircraft
Livemint
·
1m ago
Medial
India’s Directorate General of Civil Aviation (DGCA) has mandated immediate inspections of Air India’s Boeing 787-8/9 aircraft following the Air India flight AI-171 crash, which resulted in 265 fatalities. The checks, focused on General Electric's GEnx engines, will include fuel parameter monitoring and cabin air compressor systems. These inspections must be completed before any flights depart from India after midnight on 15 June, as part of intensified safety protocols post-accident.
View Source
Air India Crash: 1 Briton survives, over 200 killed in Ahmedabad-London AI-171 plane crash
Economic Times
·
1m ago
Medial
In a tragic plane crash in Ahmedabad, India, over 200 people died when an Air India flight collided with a building. A British survivor, Vishwash Kumar Ramesh, miraculously escaped with injuries. The crash involved a Boeing 787-8 Dreamliner on its way to London, carrying 242 people, including 12 crew members. Rescuers are working amidst fears that more casualties might be discovered. Video evidence shows the aircraft struggling to gain altitude before crashing.
View Source
Plum expands into personal insurance sector, to invest $6M over two years
YourStory
·
4m ago
Medial
Insurtech startup Plum plans a $6 million investment over two years to expand into personal insurance, aiming to cover 10 million individuals by 2030. The Bengaluru-based company, known for transforming corporate health insurance, appointed Atul Mishra as head of personal insurance. Plum seeks to address the gap in coverage for over 400 million Indians by offering transparent, affordable options. Already facilitating $120 million in premium through corporate insurance, Plum will integrate personal insurance into its existing mobile platform.
View Source
Trackers
Active Indian VC’s
OG Capital
Email
With a hands-on approach, OG Capital aims to invest in over 20 promising...
Accel Partners
Email
Early and growth-stage investments in disruptive technology companies with...
Blume
Email
Early-stage venture capital firm investing in technology startups in India. Focus on...
Access All Trackers
Startup Showcase Winners
June 2025
Buddy
Helping your parents when you are miles away
BiteStop
The Pit Stop Your Cravings Deserve
Bloomer
The next generation E-commerce platform
Enter Ongoing Startup Showcase
Top Users
Trending News on Medial
Download the medial app to read full posts, comements and news.
Go to Medial App
Not Now
Know everything that’s happening in the startup ecosystem, first.
Enable Notifications?
No, thanks
Count me in
