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22 Cards in this Set
- Front
- Back
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AVN5A |
DEFERRED PREMIUMS allows premiums to be paid in installment. cover ceases if they are not paid on due date. OS premiums become due if claim exceeds the installments |
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AVN 6 |
PREMIUM PAYMENT CLAUSE
allows premiums to be paid in installments OS premiums become due if claim exceeds the installments |
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AVN 8 |
Full premium if lost full annual premium becomes due following a total loss used when aircraft is added mid-term |
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AVN9 |
Full premium paid in the event of a claim exceeding premium paid if a claim exceeds the premium paid, the balance is paid in full |
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Additions + Deletions clauses |
AVN17A (Hull)
AVN18A (liabs) AVN19A (Hull and Liabs) |
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AVN21 |
CLAIMS COOPERATION CLAUSE used on fac RI policies how re insured + re insurers cooperate on claims claims must be advised to reinsurers within 7 days must provide reinsurer with all information with regards to a loss and cooperate fully |
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claims control clause |
reinsurers must be advised of all claims within 72hrs all info must be variable reinsurers control the settlement of claims including the appointing of ant assessors / surveyors |
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avn41a |
RI UW and claims control clause RI clause giving reinsurers control over claims and UW 72 hrs to advise claims same gross rate and conditions to apply to reinsurers as it does to insurers |
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avn26a |
AC laying up and return clause when AC are laid up flight and taxiing risks are suspended and credited on expiry notice must be given must be excessive of 30 days nor return whilst aircraft is laid up for maintenance repair overhaul return will be 75% of pro-rata difference between flight and ground risks |
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avn28b |
AC financial interest endt protects financier following a negiglicant act of the insured |
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AVN71 AND 38B |
Nuclear risks exclusion clause radioactive contamination clauses. insurers feel they do not meet modern world conditions 38b used for aircraft 71 is an absolute exlusion |
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avn 46b |
noise and pollution exclusion clause introduced when Concorde were flying used for: aircraft TPL; airport operators liability; products liability; satellite third party liability |
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wet lease |
provide crew, pilot, maintenance and insurance |
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dry lease |
just provide aircraft |
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avn 54 |
non owned aircraft endorsement provides automatic cover for any aircraft used by the insured but not declared under its poicy |
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avn 59 |
non aviation liability clause used in general liability wordings to limit cover to the insureds aviation operations |
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avn60a |
personal injury extension extends policy to cover personal injury namely: false arrest, malicious prosecution, wrongful entry; inadvertent discrimination; libel or slander usually maximum cover of usd25m |
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avn61 |
agreed value clause removes insurers rights to replace or repair an aircraft full agreed value must be settled useful when aircraft are subject to a finance or leasing agreement full value paid irrespective of market price |
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avn 62 |
search and rescue extension clause covers reasonable expenses for the insured for search and rescue operations in locating missing / unreported aircraft |
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avn 76 (extension of avn62) |
covers costs associated with runway foaming, wreck recovery, removal, disposal, and expenses of a public inquiry aggregate limit applied |
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mechanical breakdown cover |
mirrors the mechanical breakdown exclusion in AVN1C |
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TLO insurance |
covers total loss only of aircraft or damaged beyond economic repair (CTL) (75% of agreed value) |
