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Old 7th Aug 2013, 16:40
  #163 (permalink)  
Swiss Cheese
 
Join Date: Feb 2007
Location: England
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Why an aviation insurer might be interested in recovering the wreckage

Apparently, some 30 million Euro was spent by aviation insurers for Air France and Airbus in the extended location and recovery of the A330 from Flight AF447 in the mid-Atlantic.

There are multiple reasons why an aviation insurer might be interested in a salvage operation, given that the aviation insurer here will be facing a hull claim in excess of US$250,000, and potentially other claims:

1. Aviation Hull insurers have rights of subrogation to recover their policy payouts in the event the loss is partly or wholly due to the fault of a third party. This tends to happen behind closed doors in private legal proceedings called Arbitrations, so they do not often see the public light of day.

2. Aviation Insurers always conduct due diligence in the course of considering whether any and all claims are valid and not excluded by the Policy, and its all-important small print. Loss Adjusters will already have been instructed to commence that task.

3. Aviation Insurers are considered to be "interested parties" in Coroners Inquests in England and Wales. The Inquest can be informative as to the questions or where, when and how a Deceased came by their death.

4. It is generally the right thing to do, in the circumstance, to assist the Policyholder client. Believe it or not, some insurers in London are actually sympathetic.
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