Insurance Post

Brazil air crash unlikely to impact market

Insurers are counting the cost of an air disaster in Brazil in which a plane exploded after smashing...

Insurers are counting the cost of an air disaster in Brazil in which a plane exploded after smashing into a cargo building, killing more than 200 people.

US-based insurer AIG has been named as the main underwriter for the TAM Airbus 320, which was incinerated after skidding off a wet runway at Congonhas Airport, Sao Paolo, on 17 July.

Lloyd's exposure is not yet known, although indications suggest the crash is unlikely to cause a significant loss to the market, according to Lloyd's. Marsh has been named as the lead broker for the aeroplane's cover by industry sources.

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