India’s deadliest plane crash in more than decade is set to send shock waves through the aviation insurance industry and trigger one of the country’s costliest claims, estimated at around $475 million.

An Air India Boeing 787 Dreamliner crashed just seconds after takeoff from Ahmedabad Airport on June 12 with 242 people onboard, out of which, 241 people died.

One of India’s deadliest aviation tragedy has sent ripples through the global insurance sector, with total claims from the Air India crash in Ahmedabad now estimated at a staggering $475 million (Rs 39.4 billion), making it one of the country’s most expensive aviation losses on record, according to a Bloomberg report.