This is turning out to be an expensive year for air insurers

And last week's Malaysia Airlines crash already has insurers nervous about potential claims.

By Tim Sprinkle | Updated on July 22, 2014

Does Malaysia Airlines’ policy “all risk” policy really not include a sublimit for search and rescue costs?

That’s the assertion of an article on the MH17 crash in Ukraine in Tuesday’s issue of The New York Times, which goes into detail on the Allianz policy held by Malaysia Airlines, including the $2.25 billion per crash limit on the airline’s all risk coverage. If the search and rescue costs are not capped, the article reads, the ongoing search for Malaysia Airlines’ last crash — the MH370 flight that went missing over the Indian Ocean on March 8 — could prove very costly for insurers and could send shockwaves through the broader air insurance market.

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