Air India Crash Seen Triggering $475 Million in Insurance Claims

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.

“This aviation insurance claim could be one of the biggest in India’s history,” said Ramaswamy Narayanan, chairman and managing director at General Insurance Corporation of India, one of the firms that has provided coverage for Air India.

The claim for the aircraft hull and engine is estimated at around $125 million, according to Narayanan. He estimates additional liability claims for loss of life for passengers ...