Insurers get claims of Rs 200 crore for eight private jets from TN

This is over and above close to Rs 3,000 crore claims the industry has received from the general public and industries after the floods drowned Chennai and TN. “One of our aircraft, a Brazilian-made Phenom 100 was damaged due to the deluge. We are busy assessing the loss,” an executive of Joy Jets said.

Apart from state-owned insurers, private players like ICICI Lombard, Bajaj Allianz and HDFC Ergo are active in the aviation space. Currently, these insurers are busy assessing losses of the jets. 

“Though we have not received any claims from the aviation sector due to the recent floods, what I hear is that claims are likely to come from the owners of eight corporate jets that got partly damaged.

 According to reports, the claim may cross Rs 200 crore,” New India chairman and managing director G Srinivasan said. “We have received claims worth Rs 80 crore for five aircraft, damaged due to the floods. All the damaged jets are chartered ones and are owned by groups like Kalyan Jewellers, TVS and Garuda,” Oriental Insurance deputy general manager, Ajit Kumar said.