Lawyers representing Air France and La Réunion Aerienne, the insurance consortium covering the damages arising from last July’s crash of the supersonic Concorde near Paris, have submitted a “global settlement offer” to the families of the German victims of the crash.
Fernand Garnault, who heads the insurers legal team, stated that the offer had been presented to the lawyers for the families, and that they were examining the proposals. He did not reveal the amounts involved, but most estimates have put the claims of relatives in a range between $300,000 and $3.5 million; although suits in filed in U.S. courts have sought much higher awards.
Garnault indicated that he felt a settlement was imminent. If one is reached, it still wouldn’t halt all litigation, as Air France and its insurers have filed a civil action in a French court seeking reimbursement from Continental Airlines for any amount they may pay out.
Was this article valuable?
Here are more articles you may enjoy.
Climate Change Keeps Adding to List of Uninsurable Assets, Allianz Executive Says 
US Cyber Insurance Market Sees Flat Premium, More Third-Party Claims Hit Loss Ratio 
Tech and Finance Sectors Losing 28,000 Jobs Monthly Show AI Impact on Labor 
St. Pete Mayor Accepts $275M Bid to Redevelop Tropicana Field Area for Housing 
