Engadgets article An Australian healthcare insurer has announced a $300 million insurance program to help prevent deaths in the event of an air traffic control failure.
Aarp is a leading Australian provider of healthcare insurance products, including its own air traffic system.
The program is part of the Australian Government’s new plan to encourage greater competition and more innovation in healthcare.
The company says it will be able to offer an average of $1,000 in compensation for people who suffer a catastrophic loss.
The Aarp Insure Program will help provide up to $500 in insurance for the next 12 months.
It will cover anyone who has lost an air vehicle while in the air, and also those who experience a severe disruption of their normal life.
The announcement comes after the Australian Bureau of Statistics (ABS) released data showing that the average person lost an Australian air vehicle in the country last year.
The figure was just over 14 million.
The data, released earlier this month, shows that an Australian person loses an airvehicle every 24 hours.
The Australian Bureau is working with Aarp on a comprehensive air vehicle insurance plan.
It says the insurance plan will cover all air vehicle owners and passengers who are at or above the age of 75, and the average age of an Australian household at the time of the accident.
AARP is not the first Australian company to introduce insurance for people injured in the airline industry.
The National Australia Bank (NAB) was also in the early stages of developing an air insurance program.
NAB chief executive Michael O’Shea said he hopes the Aarp plan will help “save lives” by providing a safe, affordable and sustainable option for people in the same position as the Aussie pilot who lost his life in an air plane crash last year in China.
The NAB plan will be rolled out across Australia, starting with New South Wales, and would cover any air vehicles in NSW that have flown more than 500,000 kilometres since their initial journey.
The new insurance program would be administered by the Australian Safety Council. AAP/ABC