Insight and Intelligence on the London & International Insurance Markets

20 April 2018

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USAIG on risk for $50mn NYC helicopter crash

John Hewitt Jones and Laura Sanicola 16 April 2018

Berkshire Hathaway-backed aviation pool United States Aircraft Insurance Group (USAIG) leads the insurance policy for the helicopter that crashed into New York's East River last month, killing five passengers, The Insurance Insider can reveal.

The aviation policy set to pay out for hull and liability damages arising from the crash is held by Liberty Helicopters and has a $50mn limit, this publication understands.

Multiple underwriting sources said the policy would be totalled and warned costs could escalate after manufacturers Airbus...

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