Insurable interest in subject-matter insured such as an aircraft, stand-alone aircraft aggregates, mounted on board the aircraft, which are conveyed by duly executed documents.
Total loss: a complete destruction of an aircraft when no units and/or aircraft in whole can be used later in accordance to its intended purpose.
Constructive loss: technical impossibility or economic inexpediency of the aircraft rebuilding, as well as impossibility of its use according to intended purpose. Rebuilding of the aircraft is considered economically inexpedient if expenses of its breakdown maintenance are more than 75% of the insurance value of the aircraft.
Missing: the aircraft has not arrived at the destination and searching operations have (within 60 days) resulted in nothing or the search has been officially stopped before the date. The date of loss is the date and the time of the last communication with the aircraft or the date when the location of the aircraft was last known.
Damage of the aircraft: crippling of the structure or destruction of the aircraft units as a result of a chance external action on the aircraft which requires emergency maintenance.
Liability for damaging life, health or property of third party while the aircraft operation.
Types of Insurance
- Aircraft insurance
- Hull, Engines, Spare Parts etc.
- Third Party Liability,
- Passenger Liability,
- Crew Liability,
- Cargo Liability,
- Crew Personal Accident.
- Airport owner liability insurance
- Airline liability insurance