By <label id="author">Josh Recamara</label> <br>The Jeju Air commercial plane that crashed in South Korea on Dec. 29 is covered by Samsung Fire & Marine Insurance, along with four other insurers, while <a href="/us/companies/axa/398311/">AXA</a> XL is its primary reinsurance provider, the airline said in a statement.<br>The policy cover includes liability insurance coverage of up to $1 billion per accident for a policy running from May 1, 2024, to April 30, 2025.<br>Flight 2216 was landing at Muan International Airport in South Korea from Bangkok, Thailand, on Sunday, with 181 people on board, six of whom were crew members.<br>According to the airline, the plane, which was a Boeing 737-800 aircraft, made a fuselage landing when its landing gear apparently failed to deploy after the pilot reported a bird strike to air traffic control. The plane allegedly deviated from the end of the runway and crashed into the outer wall of the airport, bursting into flames.<br>Only two crew members survived the crash, while all passengers were killed.<br>Samsung Fire & Marine, as well as <a href="/us/companies/axa-xl/122756/">AXA XL</a> <a href="https://news.ambest.com/NewsContent.aspx?refnum=263270&altsrc=23" target="_blank">did not immediately respond</a> to Best’s requests for comment.<br>Samsung Fire & Marine is the insurance subsidiary of Samsung Group. Its portfolio includes automobile insurance, long-term insurance, general insurance and annuities. AXA XL, a subsidiary of insurance giant AXA, offers property and casualty global commercial insurance to enterprises of various sizes.<br>South Korean authority launched a probe on Jeju Air, as well as the country’s entire airline operations following the event, with a team of US investigators assisting local authorities.<br>Earlier this week, Jeju Air reduced the number of its flights by up to 15%. Its chief executive, Kim E-bae, has also been banned from leaving South Korea amid the investigation.<br>South Korea’s transport ministry earlier said that they had already extracted the data from one of the plane’s black boxes. The data will be converted into an audio file, while a second black box – a flight data recorder – will be transported to the US for analysis.<br><br><a href="https://news.google.com/rss/articles/CBMixgFBVV95cUxNOWttcnJ1Y19kbDZ4U0x5UGJiRzVYcWMwYWJYQTdGRFUxZU5TVHdCSHFDZWN4bUl3Ry1BNWo5MFFyMXZiamZZODcyYnhyWmZKeUpRaUVoWnpvMTEwZnVsUHdjNlA3X2lfM1luVE1nT3NhRGpaZzFlV3h6ZzdjcV84VkNnVnVUd2FlVlI0YjlyWHV3ZGdfelJPUmw1WlBtYVRhMmxwcWwxaU9DSGl5UFFDTnA3WXZHVVA2aTlVSDZ3QjhsZGpFWVE?oc=5">source</a>
