Aviation 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.
- Hull
- Liability
- Airport
- GPA for Pilots and Passenger
Description
Hull – Insurance that covers against loss or damage to hull and machinery including equipment that generates the power to move the vessel and control the lighting and temperature system, such as boiler, engine, cooler and electricity.
Liability – A product for employers that protects them from major financial loss if a worker experiences a job-related injury or illness that workers compensation doesn’t cover. Employer & liability insurance is also called “part 2” of a workers compensation policy.
Airport – It is important to point out that while an airport is not required by the Federal Aviation Administration (FAA) to have insurance, the legal ramifications if an airport does not possess coverage are severe. The sheer cost of a slip-and-fall a passenger might experience on a premises including the medical bills, lawsuits, etc., are more than enough to convince an airport to purchase a variety of coverage for their premises. Slip-and-falls are not the only risk – the possibility of fuel spills, vehicle accidents, equipment malfunctions, aircraft accidents and more.
GPA – Group Personal Accident is a policy specially designed to protect the group of selected people from the consequences of unexpected accident. These consequences can be death, disability, etc. The group of people covered can be the employees of the company, the family members of employees or members of any social group or community.