Plane crashes cost insurers over $1 bn in 2009

Paris, Sep 8 (DPA) Aviation insurance companies are experiencing one of their worst years on record due to a number of costly plane crashes, according to information released at a meeting of global reinsurance companies in Monte Carlo.
According to estimates, three plane crashes this year will force insurers to pay more than $1.3 billion (930 million euros) in compensation.

The June 1 crash of an Air France Airbus in the Atlantic Ocean, in which 228 people died, is now estimated to cost about $747 million.

Added to this is are the costs of the February crash of a Colgan Air plane in the US ($354 million) and that of a Yemenia Airlines aircraft near the Comoros islands in late June ($239 million).

As a result, 2009 "will probably go down in history as one of the worst years ever for aviation insurance," the insurers said.