Goa, June 16 -- India is facing its largest-ever aviation insurance payout following the country's deadliest plane crash in over a decade, which killed 241 people and caused widespread devastation in Ahmedabad. The total claim is expected to reach approximately $475 million (Rs.39.4 billion), making it one of the costliest incidents in Indian aviation history.

According to Ramaswamy Narayanan, Chairman and Managing Director of the General Insurance Corporation of India, the insurance payout includes $125 million for the destroyed aircraft's hull and engines, with an estimated $350 million earmarked for liability claims covering passenger deaths, crew, and third-party damages. The liability portion also includes compensation for individua...