Aviation:
Very large sums are invested in modern aircraft and their operation. The largest modern airliners cost up to Saudi Riyals 1 billion each and may carry over 500 passengers whose collective worth, if compensation for death or injury has to assessed, may run to a Saudi Riyals 3 billion. Even a small private aircraft may be the cause of a mid-air collision with similar financial consequences. The failure of a component manufactured by a small company may result in the loss of a fully loaded airliner. Because such catastrophic loss may arise it is normal for aviation risks to be excluded from many kinds of general insurance policy.
Buyers of Aviation Insurance:
- Commercial Aircraft Operators
- Corporate and Business Aircraft Operators
- Aerial Work and Air Taxi Operators
- Private Owners and Flying Clubs
- Air-Craft Manufacturers
- Owners and Operators of Air-Ports, Hangers
- Aircrew
- Passengers
- Shippers Of Goods By Air
- Lessors (Banks, Financial Institutions)
- Hang Gliders
- Conventional Gliders, Balloons and Hovercraft
TYPES OF COVERS OFFERED:
- Aviation Hull All Risks
- Hull War and Hijacking
- Spare Engines and Spare All Risk
- Legal Liability To Passengers
- Legal Liability To Third Parties
- Legal Liability To Cargo
- Legal Liability To Mail
- Comprehensive General Liability
- Loss Of License
- Personal Accident