I was watching CNBC and they did a panel discussion about a story in the NY Times that discusses how AIG is basically looking for ways to limit it's pay
outs to the passengers of USAir flight 1549 that ditched in the Hudson River. Part of the problem it seems is that the insurer only has to pay out if the
airline is guilty of negligence.
So for example if the engines had failed due to maintenance failure, then the case is clear. But so far as I know everybody seems to agree that it was due to a freak accident where a flock of birds took out both engines. Adding that no one died or was even seriously injured and claims are going to be hard to justify.
What it looks like AIG is doing is offering each passenger some money ($10,000) but only if they sign a waver preventing any future claims.
Anyway here is the article...
http://www.nytimes.com/20...AIG&st=cse&scp=3
So for example if the engines had failed due to maintenance failure, then the case is clear. But so far as I know everybody seems to agree that it was due to a freak accident where a flock of birds took out both engines. Adding that no one died or was even seriously injured and claims are going to be hard to justify.
What it looks like AIG is doing is offering each passenger some money ($10,000) but only if they sign a waver preventing any future claims.
Anyway here is the article...
http://www.nytimes.com/20...AIG&st=cse&scp=3
