Aviation Hull and Liability Insurance Policy
Generally Aviation Hull Insurance covers three groups of risks.
A – Destruction of aircraft or damage sustained by it
In this regard the Insurer obligations include:
Indemnifying the losses and damages sustained by the aircraft in case of destruction or damage sustained by it due to insured risks. Also in this part the expenses related to emergency landing of the aircraft and expenses of saving it are payable according to the conditions of the insurance policy.
B – Legal Liability against Third Parties (Non-Passengers)
If due to crash of the aircraft or falling down of persons or objects from the aircraft, any damage is sustained by third parties, the insured is legally recognized liable and must pay to indemnify the damage (with the exclusion of the expenses that competent authorities order the insured to pay), for physical injuries or causing death due to the accident or otherwise and the damages sustained by the properties, the insurer should be bound to repay the paid-up amounts to him.
C – Legal Responsibility toward Passengers
- The insurer should pay all amounts that the insured pays under legal liability for the following items:
* Body injuries caused by the accident (leading to death or otherwise sustained by passengers boarding the aircraft or whilst leaving it.
* Insurer’s obligation against death or physical injuries and damages sustained by air baggage are varied based on the policyholder’s suggestions but the minimum amount of compensation is assessed according to the Warsaw Convention of 1929 and its amendments in Hague 1995.
* Destruction of or damage sustained by the passengers’ cargo and their personal belongings from the time of delivering to the transport authorities at the airport of origin until its delivery to the passengers at the destination airport.
* In the meantime the insurer should be liable to indemnify the damage sustained by passenger cargo (i.e.) $ 20 per kilogram up to a maximum of 20Kgs for each passenger.