Airline Accident Financial Assignment: Who Is Responsible For Compensating Airline Accident Victims

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Airline Accident Financial Assignment: Who Is Responsible For Compensating Airline Accident Victims & Is Any Family Member Entitled To Claim Compensation? Answer This Financial Assignment focuses on a highly debated question relating to airline accident victim compensation. The assignment investigated who is responsible for compensating airline accident victims as well as which family members are entitled to receiving compensation. Airlines Accidents tend to claim the smallest number of human lives as compared to other forms of transport but they also tend to be the most high profile and intensely covered by Media. Airline accidents also award higher compensation to the victims and their families as compared to other modes of transport. This has raised controversy regarding whether airline accident victim families are entitled to compensation for the accidents and the amount of compensation they should be awarded (Wang, Hofer, & Dresner, 2013). To better understand the situation, we would break down the scenario on this Financial Assignment into two sections and discuss each section individually before bringing together the findings to deliver a final verdict.

Who is Responsible for Causing Airline Accidents? An accident is defined as an unplanned event leading to disaster, injury or death; they are not planned for thus classified as Accidents. Either way, airline accidents are closely investigated to determine the cause of the accident, due to air travel accidents being classified as high profile and attracting a lot of attention (Liou, Yen, & Tzeng, 2008). While performing research for this Financial Assignment it was identified that recent years have registered a rising number of smaller airlines and commuter flights which have also led to more accidents but few of the smaller aircraft accidents are covered by the media. It has also led to commuter and small airline accident compensation is less than that awarded by international commercial airlines. The Financial Assignment clearly identified there is a certain level of bias towards airline accident coverage and compensation which is a serious concern that must be addressed.


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