Aviation Hull & Liability Insurances constitute one of the most important assets for your company, in order to indemnify you for claims of passengers and third parties as well as for financial losses of your assets.
The following provides an overview of the typical coverages in the aviation sector:
The insurance protection of third-party legal liability insurance extends to the legal liability from the use of the aircraft listed in the insurance policy or addendum and from the nature of its use specified there. The personal legal liability of all people involved in the management, operation and control of aircraft is included.
Liability claims arising from personal injury and property damage losses of passengers of the aircraft and from property damage losses to conveyed goods are not insured. Insurance protection is provided for this under air carrier liability insurance.
Third-party legal liability, air carrier legal liability and, where applicable, other liability protections may also be concluded as a combined single-limit coverage (CSL) with a combined sum insured.
The insurance protection of air carrier legal liability insurance extends to the legal liability from the carriage or conveyance of people and objects that they carry or take with them as well as baggage and air cargo. The personal liability of all people involved in the management, operation or control of aircraft is hereby included.
Liability claims that result from the use of the insured aircraft and the specified nature of their use are not insured. Insurance protection for these risks is provided in thethird-party legal liability insurance policy.
Air carrier liability insurance, third-party legal liability insurance and, where applicable, other liability protections may also be concluded as a combined single-limit coverage (CSL) with a combined sum insured.
(Combined third-party/passenger/cargo legal liability insurance)
A combined, uniform sum insured (combined single-limit) can also be chosen as an alternative to the separate products of third-party legal liability insurance and air carrier liability insurance.
The following are included as a minimum:
As an owner and operator of high-value aircraft, additional cover modules may be integrated into the CSL coverage, e.g.
If an exclusion of war and terrorism risks is provided in an aviation liability insurance policy (in the third-party legal liability insurance policy or air carrier legal liability insurance policy amongst others), the possibility exists to insure these risks via a separate cover. This war legal liability insurance provides coverage for losses arising due to civil war, strike, riot, acts of sabotage or even aircraft hijacking, for example.
In view of country-specific requirements, coverage of these risks is often necessarily up to a specific sum. In addition, lessors, charter clients and airports, for example, often require insurance protection in force for the war risk that is beyond the legal requirements. The co-ordination of appropriate insurance protection, with global route planning and particularly for flights in politically critical areas, is a service aspect that Albatros offers you.
The insurance protection for hangarkeepers' legal liability insurance covers the legal liability from property damage losses to third-party (i.e. not to your own, rented, hired or borrowed) aircraft and/or aircraft parts, which arise during the period of the taking into custody (from the date of receipt by the insured party until the return) or during the period of the activity of the policyholder. The ground risk is generally insured and, depending on the agreement with the insurer, test or acceptance flights as well.
We recommend an aviation products legal liability insurance for coverage of your legal liability after the manufacture or delivery of the aircraft and/or aircraft parts handled.
The insurance protection of aviation products legal liability insurance covers the legal liability from the manufacture or delivery of defective products as well as from the flawed execution of work and services to aircraft and/or aircraft parts.
Liability claims on account of personal injury and property damage losses and further losses arising therefrom, which occur after delivery of the product to the buyer/principal or after conclusion of the work or execution of the service, are insured.
We recommend an aviation hangarkeepers' legal liability insurance in order to also cover the risk of financial claims, which arise in the period when third-party aircraft and/or aircraft parts are entrusted to you.
Aviation hull insurance insures all risks (but exclusions apply for wear and tear and gradual losses, amongst others), to which the insured aircraft is exposed, up to the level of the agreed sum insured and provides compensation for partial losses (repair work and material costs) as well as total losses (reimbursement of the current, replacement or appraised value).
War and terrorism risks (e.g. civil war, strike, riot, acts of sabotage, seizure and aircraft hijacking) are not covered in aviation hull insurance. The conclusion of a separate aviation hull war insurance is advisable for these risks for the protection of your financial interests.
We recommend an aviation hull deductible insurance for the reduction of retentions in aviation hull insurance for passenger aircraft, which are sometimes very high.
Aviation hull deductible insurance supplements the aviation hull insurance, in that the partial loss retention from the hull coverage is insured, which can amount up to US$ 1 million in the case of wide-bodied aircraft.
The terms and conditions of the aviatioin hull deductible insurance normally fully match the hull policy, in order to ensure complete insurance protection. The economic risk in the partial loss retention can be considerably reduced in such a way.
Aviation hull war insurance insures war risks to which the insured aircraft are exposed up to the level of the agreed sum insured.
For example, civil war, strike, riot, acts of sabotage, aircraft hijacking and seizure are hereby included. Hull war insurance supplements your aviation hull insurance. The co-ordination of appropriate insurance protection, with global route planning and particularly for flights in politically critical areas, is a service aspect that Albatros offers you.
