The families of eight victims of the US-Bangla Airlines airplane crash in Nepal received compensation from the insurer on Monday.
The compensation was determined as per the Warsaw Convention and each victim got around 51,000 US dollars.
An aircraft US-Bangla Airlines crashed at the Tribhuvan International Airport in Kathmandu, on March 12 this year, killing 50 passengers out of 71. There were 27 Bangladeshis on board, including four cabin crew.
Among the eight victims for whom compensations were paid on Monday, seven were killed and one was injured. The injured person got $ 42,000.
The cheques for the compensation were handed over through a ceremony attended by Chairman of Bangladesh Insurance Association Sheikh Kabir Hossain, Chairman of IDRA Shafique Patwari and Managing Director of the Sena Kalyan Insurance Company Ltd Brig Gen (retd) Shafique Shamim.
Sena Kalyan Insurance Company, the main insurer of the aircraft, had reinsured half of the amount with Sadharan Bima Corporation and the remaining half with a leading British insurance company, XL Catlin, through insurance broker KM Dastur and Co.
Sadharan Bima Corporation also reinsured it with Catlin.
Since the accident, XL Catlin and Lloyd's of London assigned two law adjusters -- McLarens Aviation Limited and Holman Fenwick Willan (HFW) -- for investigation. They have submitted their report recently determining the compensation amount for each individual.
HFW assigned local law firm FM Associates to settle the payment issue.
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