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Aviation Insurance

  • 1. Product Overview
    Aviation insurance generally provides the aircraft with both property damage and liability for damages caused by the aircraft. This includes coverage against property damage, Third Party Liability, cargo, or loss of life.
    Aircraft owners and operators are required by law to purchase insurance.
  • 2. Company Who needs this policy
    Passenger and freight carriers and individuals or operators who own or operate aircraft
  • 3. Limit of Liability and Deductibles

    - Limit of Liability : Insured Amount of insurance agreed in the insurance policy.

    -Deductible : In the event of damages, the claim amount of insurance to be paid by the company after deduction as "Deductible" which is borne by Assured.

  • 4. Products

    - Hull All Risk Insurance

    - Liability Insurance

    - Personal Accident Insurance

    - War Insurance

    - Deductible Buy-Back Insurance

  • 5. Process of purchase of Insurance

    1) Create a questionnaire

     Creating Information to Calculate Insurance Rates

     Contractor/Aircraft/Pilot/Aircraft's use and estimated flight times, etc.

    2) Rate calculation

     Korean Re or Overseas Reinsurer Rate quotation

    3) Conclusion of insurance contract

     Conclusion of an insurance contract by agreement of insurance conditions and premiums (1-year policy)

    4) Issue of insurance policies

     Issue of insurance policy (issued by a domestic insurer

    5) Issue of insurance premium invoices

     In the case of insurance premiums, it can be paid in full payment or in installments