Air India crash sparks $130M, $150M insurance claims, dragging down shares of New India Assurance and ICICI Lombard as insurers face payouts for aircraft damage and liabilities.

• Air India insured its fleet for $20B with Indian insurers including TATA AIG, ICICI Lombard, and New India Assurance.
• Industry estimates $80M, $100M for aircraft damage and over $50M for death claims from the crash, related fatalities.
• Shares of THEE and ICIL fell sharply Thursday, with THEE down 3.8% and ICIL down 2.1% amid claims fears.