Magazine date:
Mar 2015 The A320 Airbus crash of Germanwings, a subsidiary of Lufthansa which took place on 24 March 2015, could cost tens of millions of dollars to insurers, among which Allianz is the leader.
According to international conventions, the maximum compensation for each passanger who dies when traveling on a plane is equal to 157,400 USD that is a total of 22.7 million USD for all passengers.
The value of the Airbus A320 hull is added to this amount. However, this compensation could be much higher in case of lawsuits the victims' relatives if Germanwings’ negligence was proved.
This may cause a difficult situation for the Lufthansa subsidiary, given the current development of the investigations.