FE Today Logo
Search date: 02-04-2018 Return to current date: Click here

US-Bangla to get $7.0m from insurers

No date for plane crash victims' compensation

FE Report | April 02, 2018 00:00:00

The US Bangla Airlines is going to receive 7.0 million US dollars from the insurers likely by this week against its claim after the recent crash of its plane in Nepal.

The 78-seater Bombardier aircraft crashed at the Kathmandu airport on March 12.

However, no date has been fixed for paying compensation to the victims. In total 49 passengers including 27 Bangladeshis were killed in the tragic incident, when the plane with 71 passengers on board from Dhaka crashed at the Tribhavan International Airport due to reasons, yet to be known.

Sena Kalyan Sangstha, insurer of the aircraft, received Sunday $7.0 million from the reinsurer Sadharan Bima Corporation, a state-owned company. The amount will be handed over to the US-Bangla Airlines to settle the compensation claims for the aircraft by this week, officials said.

The total insurance liability of the plane was $100 million which include the compensation for the passengers. According to officials, each passenger is eligible to get 0.2 million US dollars as compensation.

The insurers said that the victims would get their compensation after submission of the survey report by the loss adjusters. The survey started soon after the crash.

CEO of Sena Kalyan Insurance Company Brigadier Shafiq Shamim told the FE that they were trying their best to expedite the entire process but he could not give any date.

The loss adjusters who have been conducting the damage assessment are representing the two foreign insurance companies - British insurance giant Helifax and Indian General Insurance Company - who hold 98 per cent of the insurance stake of the aircraft.

As per the Warsaw Treaty on which are based the international civil aviation rules, a passenger will get minimum 46 thousand US dollars. But if they are not satisfied they can go to court.

Compensation amounts for death and injuries differ, experts said.

[email protected]

Share if you like