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Aviation Insurance
Thursday, January 1, 2009
Needing financial loss

Just because member of the family is killed in a crash doesn’t mean that you will automatically qualify for huge damages or compensation. To get this there has to be some financial loss involved, not just pain and suffering. This goes down very hard on the families which suffer this sort of loss, but the law is very specific -  you can only get financial recompense where there is financial loss. This is not just RSA but is the case in many other countries. USA is, as always, the main exception – they have the ridiculous matter of punitive damages. This is where the jury finds that adequate compensation is, say, $1mn, but because the defendant broke the law or behaved badly, the state then imposes a further penalty by way of punitive damages. Of course, this is what the attorneys are looking for as they will get a large chunk of it. It’s actually stupid – the claimant got what was fair so why give him more? If the defendant behaved badly according to the state laws then the state should get the punitive damages – you won’t see many attorneys pursuing this one!

The real sadness is that family members feel that someone should be punished for hurting the child, but if the injured person is unmarried and has no dependants then the monetary award will be only for things like funeral costs – not loss of future earnings and so on. By Henry Tours, Aviation Consultant

Ryanair on duplicity and useless directors

The Austrian Government which is trying to unload its 41.6% stake in Austrian Airlines to Lufthansa, has suggested it would take on about €600 mn Euros of debt out of a total of €900mn.
Ryanair, which has been at loggerheads with Brussels over their double standards for quite some time, is shrieking that this is a state subsidy (how else could you describe it?). This is in clear breach of the EU rules, says Ryanair, which has been in conflict with the authorities who try at every turn to attack Ryanair’s attempted take–over of Aer Lingus.
Meanwhile, Michael O’Leary in typical style has told reporters that if his offer for Aer Lingus goes through, he intends to get rid of the existing board, other than the Chairman, Colm Barrington. O’Leary described the board as so useless they should be taken out and shot! He then describes the board as Bertie’s pals, political appointees or trade union representatives who know nothing about running an airline (nothing wrong with that round here).
The offer is worth €748mn. By Henry Tours, Aviation Consultant

Air rage incidents on the up

According to the Guardian newspaper, it seems that air rage incidents on UK aircraft have nearly tripled in the last few years. In the period 2006 – 2007 there were over 2200 cases reported to the Civil Aviation Authority. This compared with 1359 in the previous year. The usual problem is with drinking and apparently smokers who get teed off when told they may not ruin everyone else’s health any more. Seat allocation is also a factor. I found that KLM had the perfect answer – they would only serve one drink at a time and only when you were in your seat. Then they never came round again. By Henry Tours, Aviation Consultant
 

Copyright © Insurance Times and Investments® Vol:22.1 1st January, 2009
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