The risks covered by Aviation Insurance are;
AIRCRAFT HULL RISKS INSURANCE
Aircraft Hull Insurance may be requested by Aircraft Owner or Operator in respect of Accidental Loss or Damage which may be suffered by the Aircraft itself while the aircraft is in flight, taxiing, on the ground or moored.
AIRCRAFT HULL WAR INSURNACE
Hull War Risks are generally excluded in Aircraft Hull and Liability All Risks policies. Having excluded War and Hijacking Risks from Aviation Hull Risks and Liability Policies, the Aviation market introduced a write-back provision by means of which an Insured can obtain cover in respect of certain (but not all) of the excluded Risks on payment of a higher rate of premium or of an additional premium
LOSS OF USE/ CONSEQUENTIAL LOSS:
Aircraft Owners are exposed to the potential loss of earnings as a result laying-up of an aircraft for repairs following an accident. An amount is related to the daily earnings of operating expenses in connection with the use os such Aircraft. The Policy will stipulate a maximum amount payable in respect of any aircraft during the period of insurance.
Because of the higher standard deductible on the Hull all Risks policy, this form of Cover may be arranged to reduce the standard deductible to the minimum level allowed on payment of additional premium.
LEGAL LIABLITY TO PASSENGERS
Under this form of cover, the Insurers undertake to indemnify the insured in respect of all sums which the insured shall become legally liable to pay as damages in respect of accidental bodily injury to or death of passengers who are carried in the insured’s aircraft, including whilst entering into, being carried in or alighting from the aircraft or in the course of carriage.
THIRD PARTY LEGAL LIABILITY
Under the terms of the Third party Liability Policy, the insurer covers bodily injury, death or property damage which may be suffered by third parties in consequence of damage caused by the insured’s aircraft or objects falling from it. The legal costs are included in the coverage.
However, the policy does not cover damage suffered by passengers, employees or directors of the Airline
AIRPORT LEGAL LIABILITY
The Airport legal liability Policy covers the liability of the Owner of the Operator (who may be either the government, a Municipality or a private company) of an airport for any bodily injury or material damage suffered by Third parties in consequence of the activities of the Airport Owner or Operator.
AVIATION PERSONAL ACCIDENT INSURANCE:
The Aviation Personal Accident Policy covers the members of the crew against death or permanent or temporary total disablement resulting from an accident, occurring during a flight.
ENGINE BREAKDOWN INSURANCE
This cover indemnifies the Aircraft Owner or Operator that suffer loss as a result of sudden breakdown of Aircraft Engine not attributable to normal wear and tear, less the applicable policy deductible.
Information required to effect cover
- Proposer’s Name and Address
- Proposer’s profession, Business or Occupation
- Period of Insurance required
- The use to which the aircraft will be put
- Estimated number of hours the Aircraft will be flown during the period of cover
- Where and who performs the maintenance of the Aircraft Seating Capacity (Passengers and Crew Technical & Cabin)
- Estimated number of the passenger carried per annual and departures
- Geographical limit required
- Claims experience
- Pilot details (experience)
- Type of Aircraft and make
- Serial number (s) of the Aircraft
- Year of Construction
- Registration number
- Agreed value per Aircraft
- Liability sum insured
- Spare value and limit per location (s)
- Certificate of Airworthiness
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