LOSS RECAP: AGCS LEADS AIRASIA FLIGHT, SIAT LEADS HULL POLICY FOR NORMAN ATLANTIC

The Christmas week was a busy period for loss activity with the disappearance of AirAsia flight QZ8501 and the Norman Atlantic ferry fire, both of which took place on December 28. Insurance Day has reported Allianz Global Corporate & Specialty as lead reinsurer for AirAsia, while the $67m hull policy for the Norman Atlantic is led by Genoa-based marine insurer Societa Italiana Assicurazioni e Riassicurazioni (SIAT). While Gard is the P&I insurer for the owner of the Norman Atlantic ferry, Visemar Trasporti, the vessel in under charterparty to ANEK, whose P&I club, West of England, will cover the passenger liability for the incident. Who will ultimately pay out will become clearer as the cause of the blaze emerges, according to a report in Lloyd’s List. A Gard representative told Lloyd’s List: “Gard have crew [liability] but passenger [liability] is with Anek and their club.”