ICICI Lombard General Insurance, which insured the Learjet 45 (VT-SSK), confirmed the aircraft was covered under an aviation policy and said its exposure is backed by reinsurance arrangements. The Indian Express reported the aircraft’s hull was insured for around Rs 50 crore, and that the total payout, combining hull damage and passenger liability, could reach roughly Rs 55 crore, with much of the risk placed with reinsurers including GIC Re and Munich Re. How the payout could add upAviation insurance experts said that the total expected payout includes the aircraft’s hull loss plus passenger liability, and that ICICI Lombard may recover a substantial portion from reinsurers. The Hindu Business Line separately reported the aircraft carried liability insurance coverage of Rs 210 crore, a figure that speaks to the scale of potential third-party or passenger-related claims depending on policy terms and findings. Under Indian law, the standard compensation for an air passenger’s death in an accident is about Rs 1 crore, though final amounts can vary depending on coverage and circumstances.