EKM Risk Consulting assisted a Miami-based, reputable reinsurance intermediary in securing placement for their General Aviation Underwriting, which they conduct across 11 countries in Latin America and the Caribbean.
This was achieved with the help of two global top–10 reinsurance groups in the world, thereby guaranteeing total security and peace of mind to the insurance companies that issue the original policies, as well as to the aircraft owners and airport operators alike.
Aircraft hull
Aircraft hull insurance covers losses arising from the physical damage to aircraft hulls because of various perils, including war and terrorism.
The risk location may be determined by one or more of the following factors:
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Physical location of the aircraft (place of operation)
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The jurisdiction in which the aircraft is registered
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Residence or establishment of the insured
Aircraft crew personal and passengers’ accident cover
Aircraft crew and passengers’ accident insurance covers death or injury to aircraft crew members and passengers. The insured is normally the aircraft owner or operator.
Where the policy is written in relation to a specified aircraft the risk location is determined in the same manner as aircraft liability (see above).
If the aircraft is not specified or its details are unknown, the risk location will be determined by the territory where the insured resides or where its business is established.
Aviation liability
Aviation liability covers a wide range of legal liabilities associated with airport and other aviation operations, excluding aircraft operations.
The risk location is the territory in which the insured is resident, or its business is established.
If more than one insured resident/business establishment is covered, then each may individually create a risk location