Aviation insurance

The following may be insured:

• aircraft (civil, state and experimental aviation) that hold an aircraft state registration certificate, an aircraft airworthiness certificate or other documents replacing them;
• individual aircraft units installed on board an aircraft and having properly executed documents (log, record book, etc.), passenger and cargo aircraft.

Insured risks, insured event

The client may insure an aircraft against its destruction, disappearance without trace, loss or damage.
Insurance is provided both for individually selected risks and for all risks.

Insured events:

- an aviation accident or incident;

- landing gear failure;

- cabin depressurisation;

- bird strikes on the engines or propeller in flight;

- failure of the flight controls in flight.

- fire on board the aircraft, earthquake, storm, hurricane, lightning strike;

- unintentional actions (other than theft) of third parties that resulted in
the loss, destruction of or damage to the insured objects and took place during the term of the Insurance Contract;

- theft (not hijacking) or loss of the insured object.

Sum insured

The sum insured is determined by the Client on the basis of the insured value of the aircraft, i.e. its actual price at the time the Insurance Contract is concluded.

The insurance premium depends on factors such as:

• the type and characteristics of the aircraft;
• the insurance period;
• the insured risks selected by the client.

The object of insurance is the property interests of the Policyholder related to the possession, use and disposal of the insured aircraft (including spare and replaceable parts) as a result of its damage, destruction (total loss) or loss/disappearance during the term of the Insurance Contract. In addition, at the Policyholder's request and subject to payment of an additional insurance premium under the insurance contract, the object of insurance may include the Policyholder's property interests related to additional expenses incurred in the event of damage to or destruction (total loss) of the aircraft.

Damage to an aircraft under the Contract means:

a breach of the integrity of the structure or the destruction of components (units) as a result of the events provided for in this Contract, requiring emergency restoration repairs.

Destruction (total loss) of an aircraft under the Contract means the complete destruction of the aircraft when:
none of its units can be used any further for their intended purpose, or
it has been established that restoring the aircraft is technically impossible or economically
unfeasible (when the cost of emergency repairs exceeds
60% of its value at the date of the insured event), and also when the aircraft cannot be used
for its intended purpose.

Loss/disappearance of an aircraft under the Contract means:

loss of the aircraft when, after a scheduled departure made during the term of the insurance contract, it did not arrive at its destination and search operations produced no results within 60 days, or the search was officially called off before that period expired;
loss of the aircraft caused by a forced landing in terrain that is hard to reach and unsuitable for evacuating the aircraft;
loss of the aircraft as a result of theft, hijacking, armed robbery or robbery of the aircraft.
The Policyholder must notify the Insurer in writing immediately, and no later than three working days after becoming aware of it, of all material changes in the insured risks, for example: leasing or pledging the aircraft, financial leasing, or transfer of the insured property to another person.