A policy that covers the insured’s life for the length of a specific flight.

The cover provided by the Policy is to replace or make good accidental loss of or damage to the aircraft including standard components parts thereof temporarily detached in connection with overhaul or repair while in the custody or control of the insured (unless other similar component parts have been substituted) from whatsoever cause arising whilst the aircraft is in Flight and/or Taxying and/or on the Ground and/or Moored. The Policy also covers legal liability to third parties (other than passengers) and legal liability to passengers.Aviation: Aircraft Hull Policy Comprehensive : The Policy cover loss of or damage to the aircraft while the aircraft is in flight, taxying, on the ground or moored, liability towards third parties, and passengers liability.Aviation: Aircraft Hull War Risks Policy : The cover provides for indemnity for loss of or damage to aircraft caused by (a) war, invasion, acts of foreign enemies, hostilities, civil war, rebellion, revolution, insurrection, martial law, military or usurped power or attempts at usurpation of power, (b) Strikes, riots, Civil Commotions or labour disturbances, (c) acts of persons for political or terrorist purposes resulting loss whether accidental or intentional, and (d) any malicious act or act of sabotage.Aviation: Breach of warranty Insurance : This Insurance provides that, if a claim is not payable to the insured by reason of a breach of any warranty of the Policy on his party, the financer will be reimbursed to the extent of the loan outstanding at that time. This is very similar to the Agreed Bank Clause in property Insurance.Aviation: Confiscation Endorsement : The Insurance is extended to include loss of or damage to the aircraft Directly caused by confiscation, nationalization, seizure, restraint detention, appropriation, requisition for title or use under the order of the Government (whether Civil, Military or de facto) and/or Public or Local Authority of the country and/or within the Geographical Area. However, such loss or damage due to the orders of the Government of India or any Public or Local Authority of India is excluded.Aviation: Hijacking Endorsement : The Insurance is extended to include loss of or damage to the aircraft due to hijacking or any unlawful seizure or wrongful exercise of control of the aircraft or crew in flight by any person or persons on board the aircraft.Aviation: Loss of License Insurance : The operating crew of the aircraft are required by law to have a valid professional license from the government to engage in their occupation. This license is granted after satisfactory medical examination. Renewal of the License is also subject to similar requirements. This license is liable to be suspended either temporarily or permanently on medical grounds. The consequent financial loss is covered by the loss of license Policy.Aviation: Loss of Use of Aircraft Insurance Policy : The cover is effected by the air operator to protect himself against loss of revenue arising from an aircraft being laid up for repairs due to accident. The Policy indemnifies the insured for the loss of his revenue in cases of partial losses only and not in case of total loss.Aviation: Personal Accident Policy (Crew) : This is a group personal accident Insurance granted to the Airline operators providing for specified benefits payable in the event of accidental bodily injury to members of the crew. The airline operator is the insured under the Policy and the members of the crew are designated as ‘Insured persons.’ The insured i.e., the airline operator, has the sole and exclusive rights of receiving any payment or of enforcing any claim under the Policy. The capital sums insured vary according to the status of the insured personnel.Aviation: Product Legal Liability Insurance Policy : This Insurance is effected by an aircraft manufacturer or a repairer to protect himself from risks that result from the faulty design of the aircraft or those due to defective repair work. The Policy indemnifies the manufacturer or repairer all sums that he might be liable to pay as a consequence of defective workmanship or manufacture.Aviation: Ransom Indemnity cover : The Policy includes, without any additional premium, indemnity to the insured to the extent of 60% of any payment that the insured may be constrained to make by threats against the insured aircraft. The balance 40% is uninsured and is at the insured’s risk.Aviation Terrorism Cover : Cover against use of violence for political ends and includes any use of violence for the purposes of putting the public in fear.Aviation: Trip Insurance : A Policy protecting individuals as fare paying passengers of a scheduled aircraft from destination to destination including while entering or coming out of airplane. It is generally obtained at airports.Aviation Clause : A clause limiting the liability of the Insurer in case of death or injury connected to a specified degree with aviation.

Consequences that are caused by lace of care on part of an individual, and that could have been avoided had the individual exercised proper care. Generally refers to events that occur following a loss as the result of a person’s failure to take steps to prevent the consequences.

(i) A right which can be exercised by an underwriter to relieve him of liability under the Policy because the assured has been guilty of a breach of good faith or where the risk in a voyage Policy has failed to attach within a reasonable time after the underwriter wrote the risk. (ii) Never having the exposure or abandoning an exposure that is acquired earlier. (iii) A risk management technique that often is not feasible because it keeps one from engaging in a desired activity. Award : The decision in Court of Law or Arbitration.