Insurers assess Chapecoense air tragedy

- Wednesday, November 30, 2016

Insurers assess Chapecoense air tragedy
Source:AFP

The players of Brazilian soccer team Chapecoense who died in a tragic plane crash in Colombia Tuesday are covered by at least two life and accident insurance policies, one purchased by the Brazilian football federation CBF and one bought by Lamia, the company that owns the plane.

All football players registered in the CBF system have been covered by life insurance since last March, Antônio Nunes de Lima, president of the CBF, was quoted as saying by insurance news outlet Sonhoseguro.

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When the insurance contract was signed with Itaú Seguros there were more than 10,000 players registered in the CBF system.

This insurance coverage is 12 times the player's salary, according to Sonhoseguros.

In addition to the CBF insurance policy and possible individual policies, the players are also covered by the mandatory civil liability insurance bought by the owner of the plane, as the accident "was the direct result of the operation carried out by the air carrier or its employees," William Alexander López Sandoval, legal consultant on insurance claims, was quoted as saying by insurance news outlet BDS.

The plane crashed in mountains south of the Colombian city of Medellín en route to the first leg of the Copa Sudamericana final, claiming the lives of 71 of the 77 players, technical staff, club officials, journalists and crew on board. The pilot is reported to have made an emergency call shortly before the crash, reporting electrical failure and a lack of fuel.