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26 Cards in this Set
- Front
- Back
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AVN1C |
STANDARD WORDING USED IN LONDON "insurers agree to insure against loss, damage or liability, arising out of an accident occurring during the Period of this Insurance" |
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4 Sections of AVN1C |
i) Loss and damage to AC ii) Legal Liability to third parties iii) Legal Liability to Passengers iv) Exclusions / conditions / definitions |
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Section 1 AVN1C: |
- Insured value basis - more than 60 days = total loss |
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Section 1 exclusions (x4) |
-wear and tear -consequential loss - cumulative effect of FOD UNLESS from a single recorded event - hull ded dont apply to TL / CTLs |
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Section 1 conditions (x6) |
- Dismantling / transport / repairs (not covered) - Payment or replacement - amounts to be deducted from claims (deductibles) - No abandonment - no other hull insurance in place |
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Section II |
Legal Liability to third parties "indemnifies the insured for all amounts they become legally liable to pay as damages as a result of accidental bodily injury or property damage caused by the aircraft or any person / object falling therefrom" |
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Section II exclusions (x5) |
- employees in the course of their employment - operational crew - passengers - property - noise and pollution and other perils |
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Section III |
legal liability to passengers "bodily injury to passengers whilst entering on board or alighting from the aircraft and for loss or damage to baggage" - pay when legally liable - insured must take provisions to limit liability |
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Section III Exclusions x2 |
Employee liability operational crew |
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General exclusions to all sections: x10 |
illegal uses geographical limits pilots (must be declared) transportation by other conveyance landing and take off areas contractual liability number of passengers non contribution nuclear risks war, hijacking and other perils |
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conditions precedent to all sections x3 |
due dilligence compliance with Air Navigation Orders Claims procedure |
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general conditions applicable to all sections x10 |
claims control subrogation variation in risk cancellation 10 days notice assignment not marine insurance arbitration two or more AC limit of indemnity - policy limit false and fradulent claims |
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AVN 66 |
Products Liability bodily injury or property damage caused by product manufacturers - also covers blueprints / manuals |
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AVN 52E |
50-150M AGGREGATE. DOES NOT WRITE BACK PART B OF AVN48B EXCLUSION DOES NOT COVER PROPERTY DAMAGE ON THE GROUND, OUTSIDE THE US AND CANADA. PREMIUM AND GEOGRAPHICAL LIMITS CAN BE REVIEWED WITH 7 DAYS NOTICE |
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AUTOMATIC TERMINATION OF AVN52E |
WAR BETWEEN ONE OF THE 5 MAJOR POWERS HOSTILE DETONATION OF A NUCLEAR WEAPON (48HRS OF CANCELLATION) WHEN AC IS REQUISITIONED |
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5 SECTIONS OF LSW555D |
1) LOSS OF OR DAMAGE TO THE AIRCRAFT (MIRRORS APART FROM B) 2) EXTORTION + HIJACK EXPENSES (PAYS 90% OF PAYMENTS 3) GENERAL EXCLUSIONS 4) GENERAL CONDITIONS 5) CANCELLATION / REVISION |
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9X LSW555D EXCLUSIONS |
- war between 5 powers - confiscation by the govt in the schedule (usually registry) - any debt, failure to provide bond or security under court order - repossession - delay / loss of use - loss arising out of the detonation of a nuclear weapon (i.e. section b) - loss from chemical / biological materials - radioactive contamination - use of electromagnetic pulse |
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lsw555d cancellation: |
- automatic if war between 5 countries (until aircraft lands) - automatic cancellation following detonation of a nuclear weapon |
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Loss of Use Policy |
- aircraft becomes unavaliable for use - can be standalone or included in hull - operator must continue to pay for fixed costs (i.e. leasing arrangements) - policy contains excess to avoid short term claims - e.g. 7 days - must take all reasonable steps to ensure aircraft resumes service as soon as possible - possible to hire new parts but excludes if insures should have them |
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Loss of Licence |
- where job depends on a valid and in force licence / medical requirements are must be fulfilled to maintain this licence / job is a persons main source of income - mainly pilots + air traffic controllers - waiting period usually of 180 days - death excluded - different views on drugs and alcohol - can be taken out on an individual, employer or group basis - either one lump sum after if individual is unable to return to duty of monthly benefits - proposal forms used to discover health conditions |
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Loss of licence policy terminates when: |
- employment ends - death - payment made - insured undertakes flying which is of a greater hazard than usual insured undertakes active duties in the army (unless part time) - retirement age is reached |
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Loss of licence exclusions |
war between 5 powers war involving a major power intentional self injury intentional exposure to exceptional danger - except to protect human life criminal acts venereal diseases |
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2 types of cargo cover |
cargo legal liability (more popular) - covers legal liability insured will have to pay under convention AVN 92: extension of coverage AVN 44: Mutual Revision Clause cargo all risks - dont have to be legally liable - cover for 'all risks' of physical loss or damage |
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3 ways Hull deductible insurance can be arranged |
- reducing by a fixed amount the deducible on all aircraft - reducing the deductible on all aircraft to the same level, irrespective of type - limiting the total amount they could pay during one year - irrespective of number of claims |
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Spares: |
- can stand alone as a policy but often written into the main Hull all risks section - different rating system applied: volume, value, geographical locations - Spares are destined to form part of the aircraft - all risks of physical loss or damage |
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20x Spares exclusions |
- after commencement of fitting - spare must be properly defined - no cover for engine while it is tested - no cover for mechanical derangement - wear and tear -damage to property which is intended to be refitted - insured must take reasonable menad to preserve property - loss or damage to property undergoing a process - property of others - no cover for disapperance - 7 war exclusions. |
