Guide Solutions
hull coverage - ANSWER✔✔-covers damage to or destruction of the
insured aircraft resulting from an accident
-generally doesn't cover damage to the aircraft's engines in connection
with an engine failure, unless the engine failure leads to other damage to
the aircraft
hull coverage may be purchased to cover: - ANSWER✔✔-all risks
all risks while not in flight, or
all risks while not in motion.2
Purpose-of-use categories - ANSWER✔✔-categories of airplane use that
are used in aviation insurance classification and rating
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,-pleasure and business
-industrial aid
-limited commercial
-commercial exept instruction or rental
-commercial
-special uses
FAR Violation Exclusion Clause - ANSWER✔✔-says that if the operation
was in violation of a FAR, it is excluded from coverage by the insurance
policy
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,subrogation - ANSWER✔✔-The process by which an insurer can, after it
has paid a loss under the policy, recover the amount paid from any party
(other than the insured) who caused the loss or is otherwise legally liable
for the loss.
How renting pilots can avoid subrogation - ANSWER✔✔--purchasing a
waiver of subrogation endorsement to their aircraft insurance policy
-have insurance company generically name renter pilots as additional
insureds on the policy
If your business is located on an airport, you will need - ANSWER✔✔-
airport liability insurance
types of airport liability insurance - ANSWER✔✔-worker's
compensation
unemployment
premises/hangar keeper's liability
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, products liability
premises liability - ANSWER✔✔-covers injury to nonemployees
occurring at your place of business
Hangarkeepers Liability - ANSWER✔✔-insurance that covers your
liability for damages to other people's aircraft while they are in your
care, custody, or control
product liability - ANSWER✔✔-insurance needed to cover claims arising
out of faulty workmanship, oversights in inspection, errors and defects
in design or manufacture of goods sold, and faults in the quality, storage,
and delivery of fules
needed by all businesses that perform aircraft inspection, maintenance,
or modification, or supply aircraft parts, fuel and lubricants
Workers Compensation - ANSWER✔✔-A form of insurance paid by the
employer providing cash benefits to workers injured or disabled in the
course of employment.
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