The right policy at the right price

Industrial Aid Insurance

Having the right insurance is not just an option; it’s a necessity. Industrial aid insurance policies are specifically designed to cover the unique risks associated with operating corporate aircraft. It ensures financial protection against a range of potential mishaps, including accidents, damage to the aircraft, and liability claims.

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What is industrial aid?

Industrial aid refers to the use of aircraft by corporations or businesses not for public hire. These aircraft are primarily used to transport company personnel, executives, or guests, aiding in the business operations of the company owning or leasing the aircraft. This can include travel to remote business locations, transportation of key personnel for meetings or site visits, and other business-related air travel needs.

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What does industrial aid insurance cover?

Industrial aid insurance policies typically cover a range of risks and are designed to meet the specific needs of companies using aircraft as a tool for business. While the exact coverage will depend on the policy’s specifics and the needs of the company owning or leasing the aircraft, common areas of coverage include:

Ground risk hull insurance

This covers physical damage to the aircraft itself, whether it happens on the ground or in flight. Ground risk hull insurance is usually tailored to the value of the aircraft and can cover losses from accidents, weather damage, theft, and vandalism.

Liability insurance

This protects the aircraft operator against claims for bodily injury or property damage that occur as a result of the aircraft’s operations. This includes both passenger liability insurance, for injuries to passengers, and public liability insurance, for damage or injury to others not on the aircraft.

Medical costs

Some policies include coverage for medical expenses for passengers injured while boarding, aboard, or disembarking the aircraft.

Personal accidents

This can be part of the policy, offering coverage for accidental death and injury of passengers and crew.

Loss of use

This coverage can provide compensation for business interruptions and the costs associated with chartering alternative aircraft if the insured aircraft is unavailable due to a covered loss.

Emergency expenses

Coverage for costs related to emergency landings, including repairs and accommodations for passengers and crew, may also be included.

Environmental and cleanup

This covers the costs associated with cleaning up pollution or environmental damage caused by an aircraft accident.

War and terrorism

Additional coverage can be purchased to protect against acts of war, hijacking, and terrorism, which are typically excluded from standard policies..

Who needs industrial aid insurance?

Industrial aid insurance is necessary for:

  • Corporations and organizations that own or operate aircraft for business purposes
  • Private aircraft owners
  • Charter operators
  • Flight schools
  • Aerial photography services
  • Aircraft lessors
  • Airport operations
  • Ground handling services
  • Other airport and aviation service providers

This coverage helps protect these entities against the potential risks and liabilities associated with aircraft ownership and usage.

How much industrial aid coverage do you need?

The appropriate amount of Industrial Aid to be purchased varies based on several factors:

  • The value of the aircraft
  • The nature of your operations
  • Your liability exposure
  • Regulatory requirements
  • Your financial risk tolerance
  • Market conditions
  • Your risk management practices

Ultimately, you’ll want to have enough coverage that your insurance will cover any financial liability in full in the event of an accident. That may include the full cost of replacing the aircraft, the number of passengers your aircraft can carry, and more.

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We work with every underwriter in the industry

We are honored to represent every A rated Aviation Insurance underwriter in the industry, as well as Lloyds of London and worldwide reinsurers. With our experts looking at every option for your specific situation, you can’t find a better price anywhere else.

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