Iran Insurance Co Covers 4 New ATRs

EghtesadOnline: Iran Insurance Company has insured the four newly-purchased Iran Air turboprop airplanes, IIC’s website announced.

News ID: ۷۷۶۳۵۰

20 May 2017

According to the contract signed by Iran Air and IIC, the brand new airplanes were covered by IIC from Toulouse to Tehran under European regulations. The company is the only entity to sell insurance to new Iranian aircrafts. New European Commission regulations require all aircraft operators (both commercial and private) to have liability insurance coverage with respect to passengers, cargo and third parties when operating within, into, out of or over the territory of a European Union member state.  The required insurance includes coverage for war, terrorism, hijacking, sabotage, unlawful seizure of aircraft and civil unrest. The four ATR 72-600s are the first delivery out of a massive order the country’s flag carrier Iran Air placed in mid-April with the Franco-Italian planemaker to purchase 20 turboprop regional aircraft, with the option of adding 20 more in the future, Financial Tribune reported.