While the asset insurance policy secures an airline from loss to its aircraft, engine or spares, the liability cover protects it from third party claims.
In a statement, Air India Express said it is adequately insured and will pay compensation in accordance with applicable law at the appropriate juncture.
Air India Express has established passenger information center and a toll free number had been made available for family or friends of those who may have been on board flights IX-1344.
The emergency response team Members and Go teams of Air India with Air India Express team have already been sent to the accident scene, and all will render necessary help to assist the emergency services and local authorities to the passengers, it said.
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