Aviation Insurance Services

Comprehensive Insurance Services

Osprey Insurance Brokers aids in supporting and assisting our global international customers in achieving risk mitigation in the most affordable method possible using our extensive experience and connections to meet the goals of each customer.

Aviation insurance brochure

Osprey Insurance Brokers aids in mitigating these risks through a wide range of aviation insurance products tailored to meet the individual needs of our customers. We provide brokering services for all types of aviation insurance products including contract risk management. Our key aviation sectors include:

 

OPERATORS

Our operator-focused aviation services include the following:

 

Aviation Hull and Spares All Risks

Our aviation Hull and Spares All Risks coverage is available for all types of aircraft including airlines, general aviation, fixed and rotor wing aviation and unmanned air vehicles and systems. Coverage extends to accident loss or damage to the aircraft and spare parts and components protection.

 

Total Loss Insurance

Our comprehensive total loss insurance policy for aviation products provides for claims at a fixed sum in addition to the aircraft’s agreed value payable under the Hull All Risks policy in the event of a total loss. Coverage remains in place for significant, unavoidable, and unable-to-be repaired incidents within the limits of the policy.

 

Aviation Hull and Spares War and Allied Perils

Our Aviation Hull and Spares War and Allied Perils policy writes back most of the exclusions for war and allied perils listed on the War and Allied Perils Exclusion Clause, AVN48B, which is applied to the Hull and Spares All Risk policy. This protection aids in providing coverage to aircraft and spares against threats such as war, strikes, riots, civil commotions, and labour disturbances. It also covers terrorist acts, malicious acts and sabotage, confiscation of requisition by government and hi-jacking.

 

Aircraft Hull and Spares Deductible

The Aircraft Hull and Spares Deductible is purchased to reduce the standard market deductible applicable level, the level of which depends on the aircraft type. This makes the deductible more acceptable for the operator.

 

Aircraft Third Party, Passenger, Baggage, Cargo, and Mail Legal Liability

With this aviation insurance policy, aircraft operators protect against legal liability to third parties and passengers who suffer injury or damage to their property, such as baggage, mail, or cargo, arising out of the operation of the aircraft, mitigating the operator’s responsibility for claims made against it.

 

Aircraft War, Hi-Jacking, and Other Perils Excess Liability (AVN52E)

To mitigate the risks associated with war and allied perils, which are generally excluded under Aircraft Third Party, Passenger, Baggage, Cargo, and Mail Legal Liability policies, operators can select to add this specific level of coverage. It aims to extend cover endorsement known in the aviation market as AVN52E.

We mitigate these risks through a wide range of aviation insurance products tailored to meet the individual needs of our customers. We provide broking services for all types of aviation insurance products including contract risk management. Our key aviation sectors include:

 

LESSORS

Our comprehensive aviation insurance is also available to lessors and includes policy options such as:

 

Contingent Insurance

Contingent Insurance aims to cover the exposure of banks, financiers, and leasing companies, where protection for such parties under any primary airline policy fails to respond to loss, and is available under any contingent hull, contingent war, or contingent liability cover. The reason for this failure to cover may include any of the following:

  • Insufficiency of operator’s policy to meet its liabilities
  • Gaps in coverage as a result of cancellation or non-renewal
  • Failure by operator’s broker to notify insurers of financier or lessors interest
  • Restrictions on policy proceeds

This showcases the importance of organisations to take action against these types of claims and mitigate these growing risks.

 

Aircraft Repossession Insurance

Aircraft Repossession Insurance provides protection to financiers or lessors against political risk and unrest. It operates in the event that the financier or lessor is unable to recover their aircraft as a result of action or inaction taken by a foreign host government. This includes:

  • Failure of a foreign government to deregister an aircraft
  • Inability to obtain export certificate of airworthiness
  • Inability to obtain physical possession of an aircraft or its records
  • Confiscation or requisition of an aircraft by a foreign government

SERVICE PROVIDERS

Our aviation insurance policies aim to protect all of those within the industry including service providers facing risks associated with ground operations such as aircraft refuelling, ground handling, maintenance providers, manufacturing, aircraft painting, air traffic control, and indeed civil aviation authorities. This includes offering:

 

Aviation General Third Party Legal Liability

This liability policy aims to protect service providers against liability claims for damage caused to property or people arising from ground operation risks including:

  • Premises Liability
  • Hangar Keepers Liability
  • Products Liability
  • Refuellers Liability including Grounding Liability

AEROSPACE

A growing area of importance in today’s aviation industry, our aerospace insurance coverage mitigates risks associated with all areas of aerospace risk. Our Space Coverage aims to protect assets against physical damage during launch or in-orbit life of satellites, as well as third party liability and product liability arising out of or in connection with satellites.

 

Customised, Tailored Aviation Insurance Support

Osprey Insurance Brokers works directly with customers to create comprehensive and custom insurance policies to mitigate risks associated with individual business operations. Our complete research and analysis of your aviation needs allows us to establish a package that keeps risks at bay while also providing an affordable price on the protections needed. Expect personalised service and attention to your needs from our experienced staff and industry leaders.

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