Global Aerospace Underwriting Managers (GAUM), the world's largest aviation insurance group, has confirmed that it is the lead underwriter for the Helios Airways Boeing 737, which crashed on Sunday 14 August en route to Athens from Larnaca, killing all 115 passengers and 6 crew.
A value of approximately $30m has been placed on the aircraft hull, while it is expected that passenger liabilities could top $50m. The joint hull and liability policy is understood to have been brokered by Aon
A spokesperson for GAUM said that the pool would pay out under strict liability regardless of negligence.
