Aircraft crash of the Brazilian team: inadequate coverage

A first estimate of the cost of the losses related to the crash of the LaMia airplane which occurred on November 28, 2016 has been released. The accident would cost nearly 250 million USD, leading to the assumption that this crash had been underinsured.

Since this announcement, there is a risk of insufficient coverage. The insurance policy underwritten by the airline company (LaMia) that had been using the aircraft amounts to only 25 million USD.

If LaMia were located in Europe, it would have been required to have a minimum coverage of 165 million USD to be able to operate. Indeed, in Europe, most charter airlines similar to LaMia underwrite aviation insurance policies of 750 million USD.

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