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Nov 2017 Air India has benefited from a premium reduction of 24% during the last renewal of its insurance contract. In order to insure its 142 aircrafts, the airliner has disbursed just 14 million USD whereas this cover had previously amounted to 18.38 million USD.
Declining loss experience has enabled Air India to benefit from more than a 40% reduction during the last two years.
The coverage, due to extend from October 1, 2017 to September 30, 2018, has New India Assurance as lead insurer followed by AIG and three other national insurers as co-insurers.
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