Aircraft Owners Third Party Liability Insurance

Object of insurance is a property interest of Insured connected with his/her obligation stated by civil legislation to indemnify a damage caused to the life, health and/or property of injured persons during aircraft operation by Insured (Assured).

Insurance can be realized in respect of

• Third parties, except passengers
• Passengers
• Cargo owners

Insurance can be carried out both all persons and in any their combination.

Insurance event is a fact of Insured’s third party liability acknowledged voluntarily by him/her with written agreement of Insurer or stated by court decision to indemnify a damage caused to persons (Beneficiaries) due to aircraft operation.

Insurance agreement can stipulate as follows:

1. Maximum aggregate limit of liability, in this case if amount of all indemnities for all occurrences in whole period of insurance agreement validity can not exceed this limit of liability.
2. maximum limit of liability per each occurrence or per series of cases as a result of one insurance event.
3. maximum limit of liability per each group of Injureds.

Insurance rate depends on type of aircraft and ranges from 0,03% to 2,5%.

Deductible

Insurance agreement may stipulate unconditional franchise.