Aviation Insurance- Aviation insurance is an insurance policies  which specifically cover the operations of an aircraft and associated possible risks in the aviation industry. Stay connected with AeroCareers -Aviation is for Everyone !

Aviation Insurance and Its Importance in the Industry

Aviation Insurance- Aviation insurance is an insurance policies  which specifically cover the operations of an aircraft and associated possible risks in the aviation industry. Stay connected with AeroCareers -Aviation is for Everyone !

What is Aviation Insurance ?

Aviation insurance policies specifically formed to create insurance coverage of the following properties in case of any serious incidents, fatal accidents /crash or others.

  • Aircraft
  • Passengers
  • Cargo
  • Mail
  • Baggage
  • Operations etc.

 

History of Aviation Insurance 

In early years of 20th century, the concept of Aviation Insurance was introduced. The first ever aviation insurance policy was introduced by company Lloyds in Year 1911.  In year 1912, the company stopped the insurance coverage after an airline meets an accident/crash.

In year 1924, the insurance companies written the best possible coverage for the aircraft and passenger liabilities.  In year 1929, the Warsaw Convention was signed. The convention was an agreement to establish terms, conditions, and limitations of liability for carriage by air.  The rules relating to international
carriage by air signed at Warsaw on the 12th day of October, 1929 and to the said Convention as
amended by the Hague Protocol on the 28th day of September, 1955.

Nowadays, it is the mandatory requirements by the various national aviation authorities around the world, to have insurance coverage on aircraft and other liabilities.

Type of Insurance

  • In-Flight Insurance
  • Ground Risks
  • Hull All Risks
  • Aviation Personnel Accidents
  • Public Liabilities
  • Hull/ Spare War Risks

 

Top Insurer Around The Globe

  • Aerospace Insurance Managers
  • TED Aviation Law
  • Hardy Aviation Insurance, Inc.
  • AIG
  • AXA XI
  • Global Aerospace
  • Starr Aviation Insurance
  • W. Brown & Associates Insurance Services
  • London Aviation
  • USAIG

The Aviation Insurance Association (AIA)

The Aviation Insurance Association (AIA) is a not-for-profit association dedicated to expanding the knowledge of and promoting the general welfare of the aviation insurance industry through numerous educational programs and events. AIA welcomes members of all facets of the aviation insurance industry, including such professionals as: agents/brokers, claims professionals, underwriters, attorneys, associates and college students interested in the business.

Weblink: http://aiaweb.org/Contact-Us.aspx

 

 

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