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The number of accidents on scheduled commercial flights with 10 or more seats in 2007, according to the Insurance Information Institute. Not one of those accidents involved a fatality. Given also that the odds of dying in an aircraft accident in 2005 were about 1-in-502,554, the 2009 I.I.I. Insurance Fact Book reports, the insurance industry points out that the commercial airline industry has a “remarkable safety record.”
$1.8 Billion
While the maximum potential exposed insurance limits resulting from the alleged Bernard Madoff Ponzi scheme are estimated to be above $6 billion, the range of direct insured losses will most likely be somewhere between $760 million and $3.8 billion, with a best estimate of $1.8 billion, predicted global reinsurance intermediary Aon Benfield.
Madoff, former chairman of the Nasdaq Stock Market, become a global villain since he confessed to stealing $50 billion in what may be the largest Ponzi scheme in history. (AP)
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