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Company News

16 July 2004

Aeroflot provided insurance rate reduction

Aeroflot started flight insurance with 30% discount in comparison with the previous insurance period.

International reinsurance leaders, representatives of the world leading insurance companies, made complex risk assessment of Aeroflot within annual insurance control. For competent estimation and insurance rate calculation for the next insurance period Aeroflot presented to insurance controllers all the information on insurance risks.

Positive dynamics of flight safety, renewal of aircraft fleet, positive operated results of the airline company, consistency with international standards, favorable insurance policy in the previous insurance period cause raise of the airline company value on the international market of flight insurance. Aeroflot insurance rate reduction concerning Casco insurance and liability insurance exceeded significantly an average rate on flight insurance market; according to all the leading experts, the airline company’s positioning on the international market of flight insurance has recently significant;y improved.

Aeroflot new flight insurance policies meet all the requirements of air authorities of the countries engaged into the airline company’s routes and correspond to Montreal convention requirements as regards to insurance of air carrier’s liability for its passengers. Aeroflot current liability limits meet also requirements of airline companies – partners according to Code Sharing Agreements; this has become of most importance on the background of Aeroflot announced joining Sky Team.

Taking into account considerable improvement of Insurance Coverage and competitive cost rates La Reunion Arienne (LRA), Air France insurance agent, is to be now a reassurance agent on the most important flight insurance policy of the airline company – Casco insurance and liability insurance. Earlier Global Aerospace Company was engaged in this.

Earlier direct risk insurance was made by Moscow Insurance Company, Aeroflot Affiliate.