A system or Company for moving freight and passengers by aircraft; a route for transit by air.
Insurance Encyclopedia
Air-Mail
The system of transporting mail by aircraft.
Air-Rights
The rights vested by grant of an estate in real property to build upon, occupy or use in the manner and degree permitted, all or any portion of space above the ground or any other stated elevation without vertical planes the basis of which corresponds with the boundaries of the real estate described in the grant.
Airborne
Carried by or through the air.
Airborne Vessel
Afloat or flying aircraft.
Aircraft
The term ‘aircraft’ includes the engines, standard instruments and equipment ; extra equipment and accessories of an Aeroplane.
Aircraft and waterborne craft exclusion
Public liability policy exclusion ensuring that aviation and marine risks are not covered unwittingly. The exclusion is overridden in respect of any liability attaching to the insured arising out of business entertainment on or in craft belonging to others, or in handpropelled boats. Work by the insured in or on aircraft or vessels (e.g. cleaning) should not normally be excluded.
Aircraft coverages
Though aircraft have long been an important element in the lives of most Americans, insurance of aircraft exposures has remained outside the mainstream of property and liability insurance markets. Aircraft hull and liability insurance is the counterpart of personal or commercial auto policies coverage. Aircraft products insurance is the counterpart of products liability cover. Air cargo insurance is mirrored in motor truck cargo. Hangarkeepers liability is akin to garagekeepers coverage. As with any specialty line of insurance, the absence of standardized forms limits practice to specialists in the line.
Aircraft damage (aircraft or aerial devices)
See: Aerial Devices.
Aircraft insurance
Specified in paragraph 5 of Part I of Schedule 1 to the Regulated Activities Order (Contracts of general insurance) as the insurance upon aircraft or upon the machinery, tackle, furniture or equipment of aircraft.
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Coverage for the insured in the event that the insured’s negligent acts and/or omissions result in losses in connection with the use, ownership, or maintenance of aircraft.