Aviation Insurance
Resumen
An aircraft is one of the most expensive machines a business can own, it carries hundreds of lives at once, and it can fall on a city it has never visited. No single insurer in Nigeria, or anywhere else, could pay for all of that alone. Aviation insurance is the answer the market built: a bundle of covers that protects the aircraft, its passengers and everyone on the ground, backed by pools and reinsurers who spread one catastrophe across the whole world.
In this lesson you will meet the three covers at the heart of every aviation programme, learn the risks that make this class unlike any other, see how the Chicago and Montreal Conventions and Nigerian law shape what an airline must buy before it may fly, and understand exactly why these risks are almost always reinsured or placed with a pool. You will work through the calculations an examiner can build from a single air crash.
Objetivos
- Identify the types of aviation insurance policy and the cover each provides
- Describe the risks peculiar to aviation insurance
- Explain the effect of international regulation on aviation insurance
- Explain why aviation risks are commonly re-insured or placed with a pool
Mapa mental
Este tema esta esquematizado para ver como se conectan las ideas.
Tarjetas
Practica rapida de memoria sobre lo que se evalua en este tema.
Nota de la lección
Regístrate para continuar
Crea una cuenta gratuita para acceder a todos los recursos de aprendizaje, preguntas de práctica y seguir tu progreso.
Evaluación de la lección
Felicitaciones por completar la lección del Aviation Insurance. Ahora que has explorado el conceptos e ideas clave, es hora de poner a prueba tus conocimientos. Esta sección ofrece una variedad de prácticas Preguntas diseñadas para reforzar su comprensión y ayudarle a evaluar su comprensión del material.
Te encontrarás con una variedad de tipos de preguntas, incluyendo preguntas de opción múltiple, preguntas de respuesta corta y preguntas de ensayo. Cada pregunta está cuidadosamente diseñada para evaluar diferentes aspectos de tu conocimiento y habilidades de pensamiento crítico.
Utiliza esta sección de evaluación como una oportunidad para reforzar tu comprensión del tema e identificar cualquier área en la que puedas necesitar un estudio adicional. No te desanimes por los desafíos que encuentres; en su lugar, míralos como oportunidades para el crecimiento y la mejora.
- Under an aviation insurance programme, loss of or damage to the aircraft itself is met by the: A. Passenger liability cover B. Hull cover C. Third-party liability cover D. Products liability cover Answer: B
- Goods carried by air are normally insured under a: A. Hull policy B. Hull war policy C. Marine cargo policy D. Passenger liability policy Answer: C
- The international convention that fixes an airline's liability to international passengers and has been adopted into Nigerian law through the Civil Aviation Act is the: A. Chicago Convention B. Rome Convention C. Montreal Convention D. Geneva Convention Answer: C
- An aircraft hull worth 10,000,000,000 naira is co-insured, the leading insurer taking a 20 per cent line. On a total loss the leading insurer pays: A. 10,000,000,000 naira B. 8,000,000,000 naira C. 5,000,000,000 naira D. 2,000,000,000 naira Answer: D
- Aviation risks are commonly reinsured chiefly because: A. premiums charged are very small B. a single event can concentrate hull, passenger and third-party losses together C. aircraft almost never suffer accidents D. the law forbids insurers from keeping any aviation risk Answer: B
Regístrate para continuar
Crea una cuenta gratuita para acceder a todos los recursos de aprendizaje, preguntas de práctica y seguir tu progreso.
Regístrate para continuar
Crea una cuenta gratuita para acceder a todos los recursos de aprendizaje, preguntas de práctica y seguir tu progreso.
Libros Recomendados
Preguntas de repaso
¿Te preguntas cómo son las preguntas anteriores sobre este tema? Aquí tienes una serie de preguntas sobre Aviation Insurance de años anteriores.
Pregunta 1 Informe
- Explain aviation insurance.
- List and explain three covers provided by aviation insurance.
- technical feasibility;
- economic feasibility.
Detalles de la respuesta
Meaning of aviation insurance
Aviation insurance is the class of insurance that provides cover against the risks associated with the operation, ownership and use of aircraft. It indemnifies the insured against loss of or damage to the aircraft itself and against legal liabilities arising from its operation, such as injury to passengers and damage to third party persons and property on the ground or in the air.
Three covers provided by aviation insurance
- Aircraft hull insurance: This covers accidental physical loss of or damage to the aircraft (the fuselage, wings, engines and equipment) whether the aircraft is in flight, taxiing or on the ground. It indemnifies the owner for repair or the value of the aircraft.
- Passenger liability insurance: This covers the operator's legal liability for death of or bodily injury to fare-paying passengers, and often for loss of or damage to their baggage, arising out of an accident during the flight.
- Third party (public) liability insurance: This covers the operator's legal liability for death, injury or property damage caused to third parties who are not on board the aircraft, for example persons and property on the ground struck by a crashing aircraft.