Air India crash leaves insurance companies grappling with complex claims, especially where both policyholders and nominees perished. IRDAI fast-tracks claim settlements.

India’s deadliest plane crash in more than decade is set to send shock waves through the aviation insurance industry and trigger one of the country’s costliest claims, estimated at around $475 million.

The devastating Air India 171 plane crash, which claimed 241 lives on board and 29 on the ground, has created an unforeseen challenge for insurance companies to settle some claims where even the designated nominees have also died in the accident.