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The federal government has introduced legislation that would increase the payout available to air accident victims – and the mandatory insurance domestic airlines are required to carry.
The Aviation Legislation Amendment increases the cap on payments to passengers injured on domestic flights from $500,000 to $750,000. Federal Transport Minister Anthony Albanese said the change would bring Australia into line with international practices and represents the first time Australia’s cap has been raised since 1994.
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The bill brings the cap “into the 21st century to reflect current costs, rather than those of nearly two decades ago,” he said.
“While Australia has a proud aviation safety record, it is important we continue to strengthen protections for people flying domestically,” Mr Albanese continued. “Together, these important reforms will ensure that airlines move quickly to a fair settlement with victims and their families in the event of an air accident.”
Albanese said the increased cap would have only a modest impact on insurance premiums, which he said represented two to three per cent of total costs for small operators and less for larger airlines.
