AIG Is Lead Insurer on Airplane Downed in Hudson River

January 16, 2009

American International Group Inc. said Friday it was the lead insurer on the US Airways passenger jet that went down in Manhattan’s Hudson River on Thursday.

An AIG spokesman, John Jones, said he could not provide details on the value of the coverage, or the identity of other insurers on the program.

Large, commercial policies are typically shared by several insurers, and AIG, as the lead insurer in this case, may have the largest exposure.

The Airbus A320, which had been in service for nine years, took off from LaGuardia airport on Thursday with 150 passengers and five crew on board, and was headed for Charlotte, North Carolina, when it ran into trouble. All passengers were rescued after the plane landed in the river between Manhattan and New Jersey.

(Reporting by Lilla Zuill; Editing by Brian Moss)

Subscribe Insurance news headlines delivered to your email.
Get a free subscription to our popular email newsletter.

Add a Comment

Your email address will not be published. Required fields are marked *

*

More News
More News Features