This document discusses aviation insurance and is divided into several sections. It begins with definitions of aviation insurance and a brief history noting it was first introduced in the early 20th century. It then outlines several types of risks involved in aviation like engine failure and bird strikes. It also defines common types of aviation insurance policies like in-flight insurance, hull insurance, public liability insurance, and passenger liability insurance. Subsequent sections discuss aviation vehicles, exclusions in aviation insurance policies, common liabilities covered, policy features, and claim procedures. It concludes by emphasizing the importance of additional protections like owning aircraft through a special purpose vehicle to limit liability claims.
PPP for insurance course comparing between Egypt and Switzerland Aviation insurance
outline:
- What is an aviation insurance
- Types
- Aviation Insurance for Commercial and Private Aircraft
- History & Market Of Aviation Insurance
- Top Causes of Fatal Commercial Airplane Accidents
- Misr Insurance
- International agreements and air treaties of Egypt
- Switzerland Aviation insurance
- Egypt & Switzerland
PPP for insurance course comparing between Egypt and Switzerland Aviation insurance
outline:
- What is an aviation insurance
- Types
- Aviation Insurance for Commercial and Private Aircraft
- History & Market Of Aviation Insurance
- Top Causes of Fatal Commercial Airplane Accidents
- Misr Insurance
- International agreements and air treaties of Egypt
- Switzerland Aviation insurance
- Egypt & Switzerland
In the rapidly-changing global business environment, time is money. No one understands this quite like the business traveler. However, often times their hands are tied as they are left to the mercy of commercial airlines, airport delays and many more travel hiccups that end up proving costly to their business’s bottom line.
Insurance claim process (Step by Step)MayaFontenot
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Check the next link to discover more about Insurance Claim Process, you must check out: https://www.agencyheight.com/insurance-claim-process/
The PPT is showing Insurance Claim Process information but also try to cover the following subject:
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The rate of your premium might increase if you file multiple claims. In some cases, your insurance carrier might even decide to deny you coverage if you have a high rate of insurance claims.
Security has been a big issue for civil aviation for decades. Airports and aircrafts are susceptible targets for terrorist attacks. The list of incidents is extensive and gets longer every year despite strict security measures.
Aviation has become the backbone of our global economy bringing people to business, tourists to vacation destinations and products to markets.
Statistically flying remains the safest mode of travelling compared to other modes of transportation. Yet significant threat continues to exist. Terrorists and criminals continue in their quest to explore new ways of disrupting air transportation and the challenge to secure airports and airline assets remain real. This calls for greater awareness of security concerns in the aviation sector.
“Protecting this system demands a high level of vigilance because a single lapse in aviation security can result in hundreds of deaths, destroy equipment worth hundreds of millions of dollars, and have immeasurable negative impacts on the economy and the public’s confidence in air travel.”
—Gerald L. Dillingham, United States General Accounting Office, in testimony before the Subcommittee on Aviation, Committee on Commerce, Science, and Transportation, U.S. Senate, April 6, 2000.
Non-Owned Aircraft Liability Coverage for Businessesntoscano50
Organizations utilize aircraft owned by third-parties for a variety of business-related purposes—from chartering flights for executives to commissioning fly-overs for research. However, when accidents occur involving these aircraft, businesses could unknowingly be at risk for the resulting injuries or property damage.
Most commercial general liability policies exclude claims related to the use or operation of aircraft. What’s more, businesses may still be considered at fault, regardless of whether or not they own the aircraft involved in a claim.
In the rapidly-changing global business environment, time is money. No one understands this quite like the business traveler. However, often times their hands are tied as they are left to the mercy of commercial airlines, airport delays and many more travel hiccups that end up proving costly to their business’s bottom line.
Insurance claim process (Step by Step)MayaFontenot
Don't struggle to get the best insurance agent in your locality, visit https://insurance.agencyheight.com/ and have the liberty to choose between multiple insurance agents.
Check the next link to discover more about Insurance Claim Process, you must check out: https://www.agencyheight.com/insurance-claim-process/
The PPT is showing Insurance Claim Process information but also try to cover the following subject:
-auto insurance claim
-insurance claim
-how insurance claims work
The rate of your premium might increase if you file multiple claims. In some cases, your insurance carrier might even decide to deny you coverage if you have a high rate of insurance claims.
Security has been a big issue for civil aviation for decades. Airports and aircrafts are susceptible targets for terrorist attacks. The list of incidents is extensive and gets longer every year despite strict security measures.
Aviation has become the backbone of our global economy bringing people to business, tourists to vacation destinations and products to markets.
Statistically flying remains the safest mode of travelling compared to other modes of transportation. Yet significant threat continues to exist. Terrorists and criminals continue in their quest to explore new ways of disrupting air transportation and the challenge to secure airports and airline assets remain real. This calls for greater awareness of security concerns in the aviation sector.
“Protecting this system demands a high level of vigilance because a single lapse in aviation security can result in hundreds of deaths, destroy equipment worth hundreds of millions of dollars, and have immeasurable negative impacts on the economy and the public’s confidence in air travel.”
—Gerald L. Dillingham, United States General Accounting Office, in testimony before the Subcommittee on Aviation, Committee on Commerce, Science, and Transportation, U.S. Senate, April 6, 2000.
Non-Owned Aircraft Liability Coverage for Businessesntoscano50
Organizations utilize aircraft owned by third-parties for a variety of business-related purposes—from chartering flights for executives to commissioning fly-overs for research. However, when accidents occur involving these aircraft, businesses could unknowingly be at risk for the resulting injuries or property damage.
Most commercial general liability policies exclude claims related to the use or operation of aircraft. What’s more, businesses may still be considered at fault, regardless of whether or not they own the aircraft involved in a claim.
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Machinery and equipment insurance policies provide protection for most types of plant and equipment in the earthmoving, construction, crane, agriculture and mining industries.
Aerovista is an integrated aircraft leasing operator, providing ACMI/Wet lease, finance lease, dry lease and aircraft management to clients in fast-growing emerging markets, as well as a full scope of aviation-related services.
In the world of leasing solutions Aerovista stands apart from the crowd through its offering of Hybrid ACMI, a highly flexible unbundled approach that is customer friendly.
The Roman Empire A Historical Colossus.pdfkaushalkr1407
The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
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2. Topic: Aviation Insurance
Group Members
Hafiz M.khawar Hussain Ei17MBA024
Ishfaq Ahmed Ei17MBA017
Mr Sheheryar Khan Ei17MBA053
Arsalan Haider Ei17MBA055
Waqar Younas Ei17MBA018
3. CONTENTS
What is aviation insurance? ................................................... .
History of aviation insurance………………………………………………..
Types of aviation insurance (peril) ......................................... .
Aviation rule in Pakistan....................................................... .
Aviation vehicles.................................................................... .
Exclusions regarding aviation insurance policy .................... .
Liabilities in aviation insurance ............................................ .
Aviation insurance policy and features ................................ .
Claim procedure ................................................................... .
Conclusion ........................................................................... .
4. Aviation insurance
is insurance coverage geared specifically to the operation of aircraft and the
risks involved in aviation. Aviation insurance policies are distinctly different
from those for other areas of transportation and tend to incorporate aviation
terminology, as well as terminology, limits and clauses specific to aviation
insurance.
5. Aviation Insurance History
Aviation Insurance was first introduced in the early years of the 20th century.
The first-ever aviation insurance policy was written by Lloyd's of London in 1911
International Union of Marine Insurance (IUMI) first set up an aviation
committee and later in 1933 created the International Union of
Aviation Insurers (IUAI), made up of eight European aviation
insurance companies and pools.
12. Type of Aviation Insurance
Peril
In the world of aviation insurance, there are several different options
available to customers needs and wishes.
• In-Flight Insurance
• Ground Risk Hull (Non-Motion) Insurance
• Ground Risk Hull (Motion) Insurance
• Public Liability Insurance
• Passenger Liability Insurance
• Combined Single Limit
13. In-Flight Insurance
That covers a plane for damages sustained while the plane is in motion. Other
insurance policies do not necessarily cover any damages sustained during motion
and so it is very important to understand what this covers and this type of policy
will work for you. It is typically the most expensive type of insurance the other
insurance policy.
15. HULL INSURANCE NOT IN MOTION
Provide coverage while the aircraft is on
the ground but not in motion.
Except
-while taking off or landing-
16. HULL INSURANCE IN MOTION
Provide coverage while the aircraft is taxiing
Except
-while taking off or landing-
17. Public Liability Insurance
This type of coverage is usually mandated by law in many places. It provides insurance for damages that
occur to third-party entities and property. Most places require that you demonstrate an ability to pay for
damages that you cause while operating a plane. This type of coverage does not pay for damage done to
the plane or to passengers in the plane.
18. Passenger Liability Insurance
This type of coverage can also be mandated for certain types of pilots and planes and provides insurance
for any passengers riding in the plane while the policy holder is operating it. Passenger liability insurance
provides money for injuries and final expenses in the event of a fatality.
19. Combined Single Limit
Combined single limit (CSL) coverage is a bundled policy that includes both public liability and passenger
liability insurance. This type of coverage has a set limit per payout per accident.
21. Aviation Vehicles
Amphibious Aircraft
This article is about fixed-wing amphibious aircraft.
For rotary-wing amphibious aircraft,see amphibious
helicopter. An amphibious aircraft or amphibian is an
aircraft that can take off and land on both land and
water. Some amphibians are fitted with reinforced keels
which act as skis, allowing them to land on snow or ice with
their wheels up and are dubbed tri-phobias.
22. Aviation Vehicles
Hybrid Aircraft:
Hybrid Air Vehicles Limited is a British manufacturer of hybrid
airships. These aircraft use both aerodynamics and lighter-than-
air (LTA) technology to generate lift, potentially allowing the
vehicle to stay aloft for several weeks.
23. Aviation Vehicles
Personal Air Vehicle:
A personal air vehicle or PAV, also personal aerial vehicle,
is an emergent aviation market that would provide on-demand
aviation services. This term was first used by NASA in 2003
when it established the Personal Air Vehicle Sector
Project, as part of the Aeronautics Vehicle Systems Program.
24. Exclusions regarding Aviation Insurance Policy
The standard aviation insurance policy is constructed much like other liability policies.
Declarations are stated, an insuring agreement is included, and conditions, definitions, and
exclusions are provided.
• If the aircraft is operated by a pilot who is unlicensed or not licensed to operate the particular
type of aircraft or by a pilot whose medical clearance has not been properly maintained.
• If the insured aircraft is operated without a proper airworthiness certificate or is operated
outside of parameters set by regulations.
• If an exclusion is shown by the insurer to be clear and unambiguous, many courts will uphold a
denial of coverage even if a causal relationship is not shown between the violation of a
regulation described in the exclusion.
• After September 11th, 2001, Terrorism exclusions were added to property and general liability
policies. Rates in the property and casualty market rose greatly. The Terrorism Risk Insurance
Act, effective November 26, 2002, established a program within the Department of the Treasury
under which the federal government shares the risk of loss from future terrorist attacks with
the insurance industry.
29. AVIATION INSURANCE POLICY
• Up to 25% annual credit premium is
paid by the insured
• Course, hungering your aircraft and being
claims-free for at least a year.
• No cap on legal fees for covered claims even if you
are sued for more than your liability limit.
• Storage coverage available when aircraft is stored or in for
extended maintenance or service.
• Several liability options available.
• Option of per-passenger coverage or economical per-person coverage.
No family
• sub-limits and no N# blocking.
• Insurer will pay to retrieve your aircraft after an off-airport landing, even if it
isn't damaged, when you purchase in-flight hull coverage.
31. Claim Procedure
• Immediate notice of loss in writing to be given
• You will normally be asked to complete a company loss report and
document
• When corresponding with the insurance company, always reference
the Named Insured, the date of the occurrence along with the claim
number assigned by the company, if available.
• You will also be required to fully document pilot credentials,
including logged hours, specific confirmation of any required training
and/or checkout requirements and verification of a current FAA
medical certificate and flight review.
• Often you will be asked to provide photographs of the damage,
including a complete photo of the aircraft to document the registration
number.
32. Claim Procedure
• Insurance companies calculate prorated depreciation based on an
estimated flat rate overhaul cost of the propeller or component part
had it not been damaged. In these cases, obviously only the repairs
associated with the damage will be reimbursed by the insurance company.
• If the Named Insured and the registered owner of the aircraft are not
the same, be prepared to provide the insurance company with
• acceptable proof that the Named Insured has an insurable interest in
the aircraft.
• In case of total loss, limit of liability will be IDV
• Any dispute regarding “Quantum” of claim amount has to be referred
to an arbitrator
33. conclusion
I Can Say! In addition to buying aviation insurance, a buyer should use all available
resources to protect against claims - for example the aircraft should never be
owned by the individual personally but rather should be held through a special
purpose vehicle with only that aircraft as its asset - this will serve to ring-fence
any claim within the company and protect other assets from claims. Where
possible, insist on contractual protections such as warranties and indemnities - if
a third party is assuming operational control and risk for your asset, this should
be reflected clearly in the contract.