Page 45 - Marine Insurance IC67 EBOOK
P. 45
The Insurance Times
Extensions/ Add Ons Determination of sum insured/values to be
l On the written request of the Insured and on insured
Section I - Sum insured is determined on Agreed
payment of additional premium, the Policy Value basis
can be extended to cover passenger liability Section II - Limit of Indemnity i.e AOA/AOP
on an Admitted Liability basis instead of Legal Section III- Separate limits of Indemnity for
Liability(AVN 34A) Passenger Legal Liability & Baggage Liability
l The Policy can be extended to indemnify the
Insured in respect of his legal liability for Rating/Pricing
compensation for damage to or loss of The factors determining the rate are the type of
passengers' personal baggage while being aircraft(Fixed Wing/Rotor Wing) ,Year of
loaded into ,carried in or unloaded from the manufacture , use, area of operation ,take of
aircraft but only when arising out of an weight, maintenance Pilots, Annual utilization
accident to the Aircraft Claims experience, limits of Indemnity. Hull All
risk rated as a percentage of aircraft value.
Variants
Aviation Hull War Risk and Allied Risk Policy, Duly completed proposals forms are to be referred
Aviation PA (Personal ) group to HO, Technical for approval of rates / terms.
3. Underwriting Guidelines Excess/Deductibles
l Duly completed proposals forms are to be Depends upon the value of the Aircraft.
referred to HO, Technical for approval of rates 4. Documents for Claims Settlement
/ terms. Documents in respect of aircraft details, flight
l The proposal form should be duly completed details, accident report, Certificate of
and should be checked for the following: Airworthiness/registration, Crew details,
u Make/Type of the Aircraft Maintenance & engineering information,
Passenger Manifest
u Engine Number and Type ------------------------------------------------------------------------
u Year of Construction of Aircraft Aviation Hull war and Allied Risks
u Maximum Take off weight 1. Introduction
u Seating Capacity Product
The Policy covers loss of or damage to aircraft
u Use of Aircraft due to war, hijacking and allied perils which is
excluded from Hull all risk policy ( by attaching
u Area of Operation clause AVN 48B). After the Israeli raid on Beirut
airport of 28 December 1968, the London
u Details of Insurance required ( Viz Hull All Market introduced a war and hijacking exclusion
Risks, Hull War Risks, Third Party Legal clause, (clause AVN 48B) which after undergoing
Liability, Passenger Legal Liability, PA to certain amendments is forms part of every Hull
Pilot/Crew, Baggage Liability) and Liability policy.
u Period of Insurance Customer
l Owners/ operators of airlines,
u Details of Pilot( Whether Named Pilots or
any pilot with valid licence, Total Flying
hours experience)
u Maintenance
u Claims experience of client ,craft ,pilot
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