Panorama.am

15:55 10/03/2007

PAYMENT OF COMPENSATIONS TO RELATIVES OF A-320 CATASTROPHE VICTIMS

As Panorama.am was told by Artak Antonyan, Executive Director of
`Grand’ Insurance Company, which has insured the crew and passengers
of the A-320 airplane, by today relatives of 110 victims have received
compensations. The amounts have been transferred to the relatives, to
the accounts opened by the insurance company.

According to Antonyan, there are a number of inaccuracies in the
documents of the relatives of 3 victims. ”The company is ready to pay
the amounts immediately after solving these issues”, Anotnyan
mentioned. The insurance amount per passenger is USD
20,000. Noteworthy, the company has already paid the compensation for
the plane. The amount has been transferred directly to the licensee –
French «Airbus» company. Russian insurance broker
«Malakut» has provided the insurance compensation worth a total
of USD 25 million.

The aviation risks of civil responsibility of `Armavia’ were
re-insured in the international insurance market by the Russian
`Malakut’ insurance broker and Lloyd insurance broker. To remind, as a
result of the wreck of the A-320 airplane of `Armavia’ near Sochi, all
the 113 people, including 8 members of the crew, died.

Source: Panorama.am