The purchase of insurance protection against financial, damage and injury losses resulting from aircraft and/or airport operation accidents is a decision to be made after thorough discussion with insurance consultants and the company’s legal department. The aviation department manager and those responsible for handling the company insurance should remain in close communication during preparations and negotiations for any aviation-related insurance contracts. The basic coverage in the aviation insurance market are physical damage to the aircraft (hull insurance), aircraft liability insurance and airport liability (premises) insurance.
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Enterprise Risk Management Series
Originally published in Business Aviation Insider
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