“ARMAVIA” SUFFERED THE LEAST?
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[02:35 pm] 05 May, 2006
There is an unwritten law in the aviation sphere: “Aviation laws are
written in blood”. After each crash the laws and rules concerning
the sphere are improved.
The crash of the airplane flying from Yerevan to Sochi will give
the specialists another occasion to think if everything was done to
maximally guarantee the security of the passengers.
But there is not a single aviation company in the world which will
confess that it did not do everything possible for maximum security. It
is noteworthy that if the aviation company is able to prove in
court that they did everything possible, but it was impossible to
prevent the crash, the company will be able to avoid making insurance
payments. Nevertheless, nothing of the kind has ever happened. One
of the reasons is that any judge is also a potential passenger.
Going back to the May 3 air crash, let us first speak about who
suffered most, naturally leaving aside human casualties which are
irreparable and immeasurable. It is noteworthy that the greatest
financial loss is inflicted to the re-insurance companies. In this case
these are British companies. The aviation company suffers the least as
they will be compensated according to the rules of airplane insurance,
although there is also a non-compensated sum: about 100 thousand USD.
Let us remind you that the airbus was bought in February 2004 by
leasing, for 25 million USD. And as it was insured, the insurance
companies must compensate the total sum of 25 million minus the
above mentioned 100 thousand USD which is the loss of the aviation
company. It should also be mentioned that the aviation company from
time to time makes payments to the insurance companies.
By the way, the insurance sums for the lives of the passengers are paid
again by the re-insurance companies. In this case, the 20 thousand
USD to each family is paid to by “Grand” insurance company, but by
the British organizations. This is why the company avoids speaking
about specific sums and dates as it can be a long process.
According to the specialists of the field, first the investigation of
the criminal case must be concluded, then the British specialists must
examine all the documents in order to assess the case as an “insurance
case”, after which they will make a decision about compensation. Only
after that will the process of compensation start which in itself will
be quite long, as there is not one re-insurance company but several.
“Financially this is not an insoluble question, but it is rather
difficult to solve from the organizational and administrative points of
view”, said on of the specialists of the field who refused to introduce
himself. “It has nothing to do with Armenia. The process lasts long in
the whole world”. Let us remind you that after the terrorist acts in
New York the insurance companies announced that the process can last up
to 20 years. As for the Armenian insurance companies, “Grand” in this
case, it has to do the most thankful business: to get the money and
to give it to people, forming positive image for the insurance field.
And still, the most important question is that why the sides
try to insist on the weather factor. Perhaps it is done to avoid
responsibility. If it turns out that the reason was not the weather
but carelessness, it will be necessary to find out whose carelessness
it was. If it turns out that the reason was technical malfunction of
the plane, the re-insurance companies can raise the insurance tariffs
as the aviation company was unable to provide necessary technical
criteria b previous tariffs. In the worst case a criminal case can
be initiated against the aviation company.
At present while the investigation process is under way and the
weather factor is the main hypothesis, we can state that the loss of
“Armavia” is mainly moral, plus the factor of damaged image with
partial financial losses proceeding from them.
P.S. There are several cases when the insurance companies can
refuse to pay. According to one of them the insurance company is not
responsible for the crash if the plane was overloaded with luggage
or with passengers. That’s why during the investigation process the
insurance companies will probably be extremely careful.