The aviation insurance market is braced for a record spate of claims following the Air France concorde disaster that claimed 114 lives.

The final bill could reach £300m if, as expected, relatives of the 100 passengers press for maximum damages. Many of the passengers were high net worth individuals and due to their status as business owners and entrepreneurs it is likely that their relatives will push for maximum compensation. Some aviation insurance experts say the sum could total £3m for each passenger.