{"id":105659,"date":"2026-05-28T18:04:22","date_gmt":"2026-05-28T12:34:22","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=105659"},"modified":"2026-05-28T18:04:22","modified_gmt":"2026-05-28T12:34:22","slug":"aviation-insurance-in-india","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/aviation-insurance-in-india\/","title":{"rendered":"Aviation Insurance in India, Types, Importance, Regulatory Framework"},"content":{"rendered":"<p><b>Aviation insurance<\/b><span style=\"font-weight: 400;\"> is a specialised form of insurance that protects airlines, aircraft owners, passengers, cargo operators, and third parties against financial losses arising from aircraft operations.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In India, aviation insurance has become increasingly important because of the rapid expansion of the aviation sector, rising passenger traffic, growth of aircraft leasing, and increasing use of drones.\u00a0<\/span><\/p>\n<h2><b>About Aviation Insurance<\/b><\/h2>\n<p><b>Aviation insurance<\/b><span style=\"font-weight: 400;\"> refers to insurance coverage provided for risks associated with aircraft operations and aviation-related activities.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It protects against losses arising from aircraft damage, passenger injuries, cargo loss, third-party liabilities, and war-related risks.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Unlike ordinary insurance, aviation insurance involves complex technical risks, international legal obligations, and extremely high compensation costs. Therefore, aviation insurance is deeply connected with aviation law, global reinsurance markets, and international civil aviation regulations.<\/span><\/p>\n<h2><b>Types of Aviation Insurance<\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Hull insurance<\/b><span style=\"font-weight: 400;\"> covers physical damage to aircraft. It protects aircraft while parked, taxiing, or flying.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Airlines also purchase <\/span><b>war-risk insurance<\/b><span style=\"font-weight: 400;\"> to protect against losses caused by terrorism, sabotage, hijacking, and war-related events.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Passenger liability insurance <\/b><span style=\"font-weight: 400;\">covers compensation payable in cases of passenger death or bodily injury during boarding, flight, or landing. This insurance is directly linked with international aviation liability rules under the Montreal Convention, 1999.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Third-party liability insurance<\/b><span style=\"font-weight: 400;\"> covers damage caused to people, buildings, and public property on the ground. In densely populated countries like India, third-party liabilities can become extremely large in the event of an aviation accident.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Cargo and baggage insurance<\/b><span style=\"font-weight: 400;\"> protects against loss or damage to goods and passenger baggage carried through air transport.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Loss of licence insurance <\/b><span style=\"font-weight: 400;\">protects pilots from income loss if their licence is suspended because of medical reasons or accidents.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Drone insurance<\/b><span style=\"font-weight: 400;\"> is another emerging area in India. Under the Drone Rules, 2021, third-party liability insurance is mandatory for drone operators. However, India still lacks a fully developed risk-based drone insurance ecosystem.<\/span><\/li>\n<\/ul>\n<h2><b>Importance of Aviation Insurance in India<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Aviation insurance is essential for ensuring financial protection, passenger safety, and stability in India\u2019s rapidly growing aviation sector.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Protects airlines from huge financial losses caused by aircraft accidents, operational disruptions, and damage to aircraft.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Ensures compensation to passengers and their families in cases of death, injury, baggage loss, or flight-related accidents.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Covers third-party liabilities arising from damage to people, buildings, and public property on the ground.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Supports aircraft leasing and aviation financing by protecting the interests of lessors, banks, and financial institutions.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Strengthens investor confidence and promotes growth of the aviation sector in India.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Helps airlines comply with DGCA regulations, as insurance coverage is mandatory for aircraft operations.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Supports the growing drone ecosystem in India, where third-party liability insurance is mandatory under the Drone Rules, 2021.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Thus, aviation insurance is a crucial pillar of India\u2019s aviation <a href=\"https:\/\/vajiramandravi.com\/upsc-exam\/ecosystem\/\" target=\"_blank\"><strong>ecosystem<\/strong><\/a>, ensuring financial stability, passenger protection, and sustainable growth of the sector.<\/span><\/p>\n<h2><b>Aviation Insurance Regulatory Framework in India<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The aviation insurance regulatory framework in India is governed through aviation laws, insurance regulations, and international conventions. It aims to ensure passenger safety, financial protection, airline accountability, and protection of aircraft financiers and lessors.<\/span><\/p>\n<h3><b>Bharatiya Vayuyan Adhiniyam, 2024<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">The Bharatiya Vayuyan Adhiniyam, 2024 <\/span><b>replaced the Aircraft Act, 1934<\/b><span style=\"font-weight: 400;\"> and <\/span><b>modernised India\u2019s aviation legal framework.\u00a0<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The Act regulates aircraft operations, maintenance, manufacturing, licensing, safety standards, and import-export of aircraft.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It <\/span><b>expanded the definition of \u201caircraft\u201d to include drones and unmanned aerial vehicles (UAVs).<\/b><span style=\"font-weight: 400;\"> As a result, drone operators are also brought under mandatory insurance requirements.\u00a0<\/span><\/li>\n<\/ul>\n<h3><b>Carriage by Air Act, 1972<\/b><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The Carriage by Air Act, 1972 <\/span><b>governs airline liability in India in cases of passenger death, bodily injury, baggage loss, cargo damage, and delays during air transport.<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Initially, the Act implemented the Warsaw Convention framework. However, the Carriage by Air (Amendment) Act, 2009 incorporated the Montreal Convention, 1999 into Indian law.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">As a result, international passengers travelling to and from India receive compensation protection based on modern international liability standards. The law <\/span><b>strengthened passenger rights by introducing higher compensation limits and clearer airline liability rules.<\/b><\/li>\n<\/ul>\n<h3><b>Protection of Interests in Aircraft Objects Act, 2025 (PIAO Act)<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">The Protection of Interests in Aircraft Objects Act, 2025 <\/span><b>gives domestic legal effect to India\u2019s obligations under the Cape Town Convention, 2001<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It protects the interests of aircraft lessors, banks, financial institutions, and leasing companies.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">This law became important because most Indian airlines operate leased aircraft instead of owning them directly.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">During the Go First insolvency crisis, aircraft lessors faced difficulties in repossessing aircraft because of conflicts between aviation law and the Insolvency and Bankruptcy Code (IBC).<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The Act creates a predictable legal framework for aircraft repossession and protection of financial interests, thereby improving investor confidence and reducing aircraft financing costs.<\/span><\/li>\n<\/ul>\n<h3><b>Directorate General of Civil Aviation (DGCA)<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">The Directorate General of Civil Aviation (DGCA) is <\/span><b>India\u2019s main aviation safety regulator.\u00a0<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It ensures that airlines and aircraft operators maintain mandatory insurance coverage before obtaining operational licences and approvals.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">DGCA also supervises aircraft safety, airworthiness standards, pilot licensing, and operational compliance. Thus, it plays a key role in implementing aviation insurance requirements within the civil aviation sector.<\/span><\/li>\n<\/ul>\n<h3><b>Insurance Regulatory and Development Authority of India (IRDAI)\u00a0<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">The Insurance Regulatory and Development Authority of India (IRDAI) <\/span><b>regulates aviation insurance companies, insurance products, and reinsurance arrangements in India.<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It ensures financial solvency of insurers, consumer protection, approval of insurance products, and overall stability of the insurance sector.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Since aviation accidents can involve massive compensation claims, IRDAI also monitors the reinsurance capacity of insurers to ensure financial stability.<\/span><\/li>\n<\/ul>\n<h3><b>Drone Rules, 2021<\/b><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The Drone Rules, 2021 further <\/span><b>expanded the scope of aviation insurance in India<\/b><span style=\"font-weight: 400;\"> by making third-party liability insurance mandatory for drone operators.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">This became important because drones are increasingly being used in agriculture, logistics, surveillance, infrastructure monitoring, and disaster management. However, <\/span><b>India still lacks a fully developed risk-based drone insurance framework similar to advanced global aviation markets.<\/b><\/li>\n<\/ul>\n<h3><b>International conventions\u00a0<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">India\u2019s aviation insurance framework is also shaped by international conventions such as the <\/span><b>Warsaw Convention, 1929, Montreal Convention, 1999, and Cape Town Convention, 2001.<\/b><span style=\"font-weight: 400;\"> These conventions govern passenger compensation, airline liability, aircraft financing, and protection of lessors and financiers.<\/span><\/p>\n<h2><b>International Framework of Aviation Insurance<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The international aviation sector operates across national boundaries. Therefore, common international rules are necessary to decide airline liability, passenger compensation, and protection of aircraft financiers. These rules are mainly governed through international conventions.<\/span><\/p>\n<h3><b>Warsaw Convention\u00a0<\/b><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The <\/span><b>Warsaw Convention, 1929<\/b><span style=\"font-weight: 400;\"> was the <\/span><b>first major international treaty related to airline liability<\/b><span style=\"font-weight: 400;\">.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Before this Convention, different countries followed different rules regarding compensation in aviation accidents, creating legal confusion. The Convention introduced a uniform system for international air travel.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It fixed limits on airline liability, standardised passenger ticketing procedures, and created rules for compensation in case of passenger injury, death, or cargo loss.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">However, global aviation expanded rapidly after the <a href=\"https:\/\/vajiramandravi.com\/upsc-exam\/world-war-2\/\" target=\"_blank\"><strong>Second World War<\/strong><\/a>. Air travel became more commercialised, passenger traffic increased significantly, and aircraft technology improved. Over time, the compensation limits fixed under the Warsaw system became too low and inadequate for modern aviation needs. To address these shortcomings, the Montreal Convention, 1999 was adopted as the modern international framework governing airline liability.<\/span><\/p>\n<h3><b>Montreal Convention<\/b><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Montreal Convention, 1999\u00a0 introduced a <\/span><b>two-tier liability system<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Under the <\/span><b>first tier<\/b><span style=\"font-weight: 400;\">, airlines have strict liability up to a fixed compensation limit. This means passengers or their families do not need to prove airline negligence to receive compensation.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Under the <\/span><b>second tier<\/b><span style=\"font-weight: 400;\">, compensation can become unlimited if the airline is found negligent. This significantly increased accountability of airlines and improved passenger protection.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The Convention also introduced the<\/span><b> \u201cfifth jurisdiction\u201d<\/b> <b>principle<\/b><span style=\"font-weight: 400;\">. Under this provision, passengers can file compensation cases in their country of permanent residence instead of pursuing lengthy litigation in foreign countries. This made the system more consumer-friendly.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>India ratified the Montreal Convention in 2009<\/b><span style=\"font-weight: 400;\"> and incorporated it into domestic law through amendments to the <\/span><b>Carriage by Air Act, 1972.<\/b><\/li>\n<\/ul>\n<h3><b>Cape Town Convention, 2001<\/b><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Unlike the Montreal Convention, which focuses on passenger liability, the Cape Town Convention <\/span><b>mainly deals with aircraft leasing and financing.<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Most airlines across the world, including Indian airlines, operate leased aircraft rather than owning them directly. Therefore, aircraft lessors and banks require legal protection over their financial interests.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The Cape Town Convention provides an internationally recognised framework for repossession of aircraft in case of payment defaults or insolvency of airlines. This reduces financial risks for lessors and improves investor confidence in the aviation sector.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">In India, the importance of this Convention became visible during the Go First insolvency crisis, where aircraft lessors faced difficulties in repossessing leased aircraft because of legal conflicts under the Insolvency and Bankruptcy Code (IBC).<\/span><\/li>\n<\/ul>\n<h2><b>Aviation Insurance Market in India<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">India\u2019s aviation insurance market is <\/span><b>relatively small compared to the rapid expansion of the country\u2019s aviation sector<\/b><span style=\"font-weight: 400;\">. Despite India being the <\/span><b>world\u2019s third-largest domestic aviation market<\/b><span style=\"font-weight: 400;\">, its aviation <\/span><b>insurance ecosystem remains underdeveloped<\/b><span style=\"font-weight: 400;\"> and <\/span><b>highly dependent on global reinsurance markets<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Aviation insurance in India covers risks related to aircraft damage, passenger liability, third-party liability, airport operations, cargo loss, and war-related risks such as terrorism and hijacking.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The <\/span><b>Indian aviation insurance market was valued at around USD 127 million in 2024, which is very small compared to the global aviation insurance market<\/b><span style=\"font-weight: 400;\">. This reflects limited domestic underwriting capacity and heavy dependence on foreign reinsurers.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A major feature of the market is that <\/span><b>domestic insurers transfer most aviation risks to international reinsurance companies<\/b><span style=\"font-weight: 400;\"> because aviation accidents can involve extremely large compensation claims. <\/span><b>More than 95% of aviation insurance premiums are effectively ceded to global reinsurers located mainly in London and Europe.<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">As a result, aviation insurance premiums in India are influenced not only by domestic aviation accidents but also by global geopolitical tensions, international aviation disasters, and worldwide reinsurance market conditions.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The market is dominated by a <\/span><b>few major players such as Tata AIG, New India Assurance, ICICI Lombard, and GIC Re.<\/b><span style=\"font-weight: 400;\"> Large airline insurance policies are generally structured through co-insurance and reinsurance arrangements where multiple insurers share the financial risk.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">GIC Re, India\u2019s national reinsurer, plays an important role because insurers are required to cede a mandatory share of aviation risks to it under IRDAI regulations. However, <\/span><b>even GIC Re transfers a large part of these risks to international reinsurers through retrocession arrangements.<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">India is also trying to strengthen domestic reinsurance capacity through GIFT City, which is emerging as an international insurance and reinsurance hub. Several global reinsurers are now operating from GIFT City to handle aviation and other specialised risks.<\/span><\/p>\n<h2><b>Challenges in Aviation Insurance in India<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">India\u2019s aviation insurance sector faces several structural and operational challenges despite the rapid growth of the aviation industry.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The Air India AI171 crash in 2025 exposed major weaknesses in India\u2019s aviation insurance market, as estimated claims from the accident were more than three times India\u2019s annual aviation insurance premium pool. This highlighted the <\/span><b>limited domestic risk-bearing capacity of Indian insurers.<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The market has historically remained <\/span><b>loss-making <\/b><span style=\"font-weight: 400;\">because of repeated aviation accidents, high-value compensation claims, and chronic underpricing of premiums.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Indian airlines are <\/span><b>highly vulnerable to fluctuations in the global reinsurance market<\/b><span style=\"font-weight: 400;\">. International aviation accidents, wars, and geopolitical tensions often result in higher premiums and stricter policy conditions for Indian carriers.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Claims settlement<\/b><span style=\"font-weight: 400;\"> in major aviation accidents can become <\/span><b>lengthy and complex<\/b><span style=\"font-weight: 400;\"> because of the involvement of multiple insurers, reinsurers, and international liability procedures.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">India still <\/span><b>lacks a dedicated aviation catastrophe pool and a permanent fast-track mechanism<\/b><span style=\"font-weight: 400;\"> for handling large aviation insurance claims.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Insurance frameworks for drones, helicopters, private aircraft, and regional aviation under the UDAN scheme remain <\/span><b>underdeveloped despite rapid growth in these sectors.<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Although drone operations are expanding rapidly under the Drone Rules, 2021, <\/span><b>specialised risk-based drone insurance products are still evolving in India.<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Aircraft leasing disputes and insolvency-related issues, as seen during the Go First crisis, create <\/span><b>legal uncertainty for insurers, lessors, and financiers.<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Thus, India\u2019s aviation insurance market requires stronger domestic underwriting capacity, improved claims infrastructure, and specialised insurance frameworks for emerging aviation technologies.<\/span><\/p>\n<h2><b>Way Forward<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">India needs to build a stronger and more self-reliant aviation insurance system to support the rapid growth of the aviation sector and reduce excessive dependence on foreign reinsurers.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Increase domestic underwriting and reinsurance capacity<\/b><span style=\"font-weight: 400;\"> so that Indian insurers can handle larger aviation risks within the country.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Develop a dedicated aviation catastrophe pool to manage compensation<\/b><span style=\"font-weight: 400;\"> in major aviation disasters.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Strengthen insurance frameworks for drones, helicopters, private aircraft, and regional aviation<\/b><span style=\"font-weight: 400;\"> under the UDAN scheme.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Create a <\/span><b>fast-track claims settlement system<\/b><span style=\"font-weight: 400;\"> to ensure timely compensation for passengers and victims after aviation accidents.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Promote GIFT City as a global aviation reinsurance hub<\/b><span style=\"font-weight: 400;\"> to reduce premium outflow to foreign markets and build domestic expertise.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Improve coordination among DGCA, IRDAI, airlines, insurers, and reinsurers<\/b><span style=\"font-weight: 400;\"> for better risk management and crisis response.<\/span><\/li>\n<li><b>Encourage specialised insurance products<\/b><span style=\"font-weight: 400;\"> for emerging aviation technologies and expanding drone operations.<\/span><\/li>\n<li><b>Regularly update passenger compensation and liability standards<\/b><span style=\"font-weight: 400;\"> in line with global aviation conventions and changing aviation risks.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Aviation Insurance in India protects airlines, passengers, cargo, and aircraft from financial risks. Know its types, importance, laws, and challenges.<\/p>\n","protected":false},"author":11,"featured_media":105660,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[786],"tags":[7809],"class_list":{"0":"post-105659","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-general-studies","8":"tag-aviation-insurance-in-india","9":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/105659","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=105659"}],"version-history":[{"count":2,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/105659\/revisions"}],"predecessor-version":[{"id":105662,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/105659\/revisions\/105662"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/105660"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=105659"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=105659"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=105659"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}