Page 57 - Marine Insurance IC67 EBOOK
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The Insurance Times
u Details of Insurance required ( Viz Hull All legal liability to pay as damages for the loss of
Risks, Hull War Risks, Third Party Legal use of completed aircraft, occurring after delivery
Liability, Passenger Legal Liability, PA to to and acceptance by a purchaser or operator of
Pilot/Crew, Baggage Liability) such aircraft for flight operations and caused by a
grounding arising out of the product hazard
u Period of Insurance
u Details of Pilot( Whether Named Pilots or any Customer
Manufacturers , Distributors, Importers, Exporters
pilot with valid licence, Total Flying hours of aviation products
experience)
2. The Insurance Cover
All proposals referred to HO for approval of rates
and terms
Determination of sum insured/values to be Coverage A
insured Personal injury and property damage liability
Sum Insured is the Capital Sum Insured and is The company will indemnify the insured for their
generally 3 to 5 times the annual income of the legal liability to pay compensation including
Insured Person defence cost for death / bodily injury or damage
to property including use of loss of property
Rating/Pricing caused by an occurrence arising out of the
product hazard
6. Documents for Claims Settlement
l Medical Report, Discharge Certificate from Coverage B
Grounding Liability
the Hospital/Nursing Home
l Police Report, DGCA Report The company will indemnify the insured for their
l Death Certificate ,Post Mortem Report, Death legal liability to pay as damages including defence
cost for the loss of use of completed aircraft,
Certificate occurring after delivery to and acceptance by a
l Certificate from Employer as to last use of purchaser or operator of such aircraft for flight
operations and caused by a grounding arising out
Licence of the product hazard
l Medical Certificate/Doctors Certificate on
Definition
PPD/PTD Product Hazard means the handling or use of or
l Any other document required to deal with PA the existence of any condition in an aircraft
product provided such aircraft product has
Claim ceased to be in the possession or under the
------------------------------------------------------------------------ control of the insured
Aviation Product &Grounding And other
Aviation Liabilities Insurance
1. Introduction
Product Grounding means a complete and continues
The policy provides cover for Insured's legal withdrawal from all flight operations or use of
liability to pay compensation to third parties for aircraft in the interest of safety by the
bodily injury or property damages caused by an authorities of the country where aircraft
occurrence arising out of the product hazard products will be used or by mutual agreement
of the insured and manufacturer /operator of
The company will indemnify the insured for their the aircraft.
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