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Appeal filed over insurance money for Superjet crash in Indonesia

12:38 28/09/2015

MOSCOW, September 28 (RAPSI) - Russia’s Kapital Strakhovaniye has filed an appeal with the Supreme Court against a lower court ruling ordering it to pay over $4 million to foreign insurance companies in connection with the 2012 Sukhoi Superjet-100 crash in Indonesia killing 45, the court told RAPSI on Monday.

The airplane was insured by Kapital Strakhovaniye, which later reinsured 95% of its risks on the foreign market. The plaintiffs – QBE Corporate, Starr Syndicate, Starr Insurance and Reinsurance, Muenchener Rueckversicherungrs-Gesellchaft AG, Dornoch and Catlin Insurance Company (UK) – reinsured the risks in line with Lloyd's of London terms.

After the crash, the plaintiffs transferred $3.5 million to Kapital Strakhovaniye, which was to compensate the relatives of deceased passengers. After conducting an investigation, the foreign companies decided that this was not an insured accident because the plane had crashed during a demonstration flight and because the insurance policy covered only test flights. In September 2014, the reinsurers sued the Russian company at the Moscow Commercial Court, demanding a refund, plus interest. The court of first instance completely upheld their lawsuit.

The plane crashed on its first ever demonstration tour, across six Asian countries, over Indonesia on May 9, 2012. All people on board the plane, including eight Russian nationals, were killed. The plane crashed into Mount Salak at an altitude of 1.6 km. The investigation found that the disaster was caused by human error.

On April 2, a Khanty-Mansi regional commercial court ordered 20 foreign insurance companies to pay Kapital Strakhovaniye, an affiliate of Russia's leading insurer Rosgosstrakh, $16 million over the Superjet 100 aircraft crash.

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Appeal filed over insurance money for Superjet crash in Indonesia

12:38 28/09/2015 Russia’s Kapital Strakhovaniye has filed an appeal with the Supreme Court against a lower court ruling ordering it to pay over $4 million to foreign insurance companies in connection with the 2012 Sukhoi Superjet-100 crash in Indonesia killing 45.
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