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Aviation hull war and allied perils insurance

Covers aircraft damage resulting from the war and allied perils that are excluded under aviation all risks insurance. The principal exclusions are as follows: nuclear war; war between five major powers (UK, US, France, Russian Federation, China); confiscation, seizure due to debt, failure to provide a bond or other financial causes; repossession or attempt thereat. Geographical limits may apply. War policies for large fleets attract an overall annual aggregate limit. The policies are not usually subject to a deductible.

Aviation insurance

The main policies are: 1. AVNIC 21/12/98. 2. Aerial form – an airport owners’ and operators’ liability policy. 3. Air displays policy – principally a public liability policy for promoters of air meetings and displays. 4. Cargo policy. An ‘all risks’ cover that, like a voyage policy, runs from start to finish and is not confined solely to the air travel part of the journey. 5. Deductible policy. See AVIATION HULL DEDUCTIBLE INSURANCE; DEDUCTIBLES. 6. Loss of licence policy. Compensates commercial pilots who lose their flying licence or suffer suspension for medical reasons. Cover can be standalone or added to other policies. 7. Loss of use policy. Covers loss of earnings when an aircraft is laid-up following accidental damage. 8. Personal accident insurance. Group personal accident cover can be arranged for both passengers and aircraft crew. Policies are effected by employers for their aircrew whose income is at risk through being ‘grounded’ by an accident. Policies effected by individual travellers for their own protection are often arranged in the accident department or by admitted liability personal accident insurance in the aviation department. 9. Satellite (or space) insurance is another development.
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Aviation insurance is written for both commercial airlines and general aviation and covers property damage of the airplane and third party liability coverage. Third party liability coverage is required in most states. The liability coverage is often outlined in the policy similar to that in an automobile policy.Physical damage insurance can be written as Inflight/In-motion and Not-in-flight/Not-in-motion. In the first instance, there is physical damage coverage only when the plane is moving or in-flight. The second type of coverage applies while the plane is on the ground and not moving. Not-in-flight/Not-in-motion is less expensive than In-flight/In-motion coverage. It is also possible to purchase “all risk ground and flight” physical damage coverage although it is much more expensive to do so.Because aviation insurance is not closely regulated as to coverage forms, policies can differ greatly. Additionally, the definitions in aviation insurance often differ from standard dictionary definitions and definitions found in other forms of insurance. For example, a common definition of an accident is “a sudden and unexpected event resulting in bodily injury, death, or property damage.” An accident in aviation insurance is defined by the National Transportation Safety Board Rule 830 and reads, an “aircraft accident means an occurrence associated with the operation of an aircraft which takes place between the time any person boards the aircraft with the intention of flight and all such persons have disembarked, and in which any person suffers death or serious injury, or which the aircraft receives substantial damage. (See Hangar Keepers Liability; Protection and Indemnity).

Aviation legal liability insurance

Covers operator’s liability to passengers, passengers’ baggage, cargo, mail and third parties plus legal defence costs. Airlines normally extend cover to include ‘personal injury’ claims defined as false arrest, malicious prosecution, invasion of privacy, discrimination, slander/false advertising and medical malpractice. Cover can extend to liability arising from war perils, excepting nuclear risks and war between major powers. Deductibles apply only to baggage and cargo claims. Cover in respect of noise, seepage and pollution is restricted. Exclusions include fines, flight delays, liability to pilots/crew and ‘own’ property.

Aviation: Aircraft (Flight & Ground Risks) Policy

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.