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Old 28th December 2001 | 19:18
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Biggles Flies Undone

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There are lots of sweeping statements here, and most of them are wrong!

SR are not ‘one of the few’ to go for unlimited liability – far from it. Full list available from IATA:

<a href="http://www.iata.org/legal/_files/Miasign.doc?IMAGE2.X=30&IMAGE2.Y=13" target="_blank">http://www.iata.org/legal/_files/Miasign.doc?IMAGE2.X=30&IMAGE2.Y=13</a>

Airlines have losses, particularly hull losses – that’s why they buy insurance.

The current incurred position (claims paid and reserved) for the SR loss is a fraction of the liability limit carried by the airline at the time of the loss.
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