Seminar: Insurance in Business Aviation, 4 November 2011 in London, UKSeptember 6, 2011 at 7:36 am | Posted in Aviation Law Current Event | Leave a comment
by Sara M. Langston with the blog faculty
Insurance in Business Aviation
Friday 4th November 2011
The aim of this event is to provide an explanation of basic insurance terms in the context of aircraft finance and ownership structures. The seminar will also concentrate on the practical aspects of how the insurance market works. Gates and Partners together with a panel of brokers, underwriters and adjusters will explain the legal and practical aspects of aviation insurance.
The seminar is aimed at financiers, lessors, owners and operators of aircraft.
Overview of insurance language and practices in aviation
– Insurance and reinsurance, hull and liability insurance, legal liability to third parties and to passengers
– Agreed value versus market value – what is the difference in finance terms?
– Sole loss payees and additional insureds
– The difference between a certificate of insurance and the underlying policy
– Fleet policies versus single aircraft policies
– War, hijacking and other perils – exemptions and exclusions
– Denial of coverage – breach of sanctions and regulations, non-payment of premiums, illegal public charter
– Jurisdictional risk
– The Lloyds insurance market and the international market – insurance and reinsurance
– Breach of Warranty and its effects
Expert underwriters, brokers and lawyers will be invited to take part in a panel discussion to debate issues affecting the finance industry such as:
– AVN67B – what does it really mean and does it really work in practice?
– Do assignments of insurance protect the financiers interests? How do they work in practice?
– EU regulation on third party liability limits – does the regulation need to be reviewed in the context of recent claims?
– How safe is the reinsurance market? Should the AIG example make financiers nervous
A review of how claims are handled in practice; negotiation of the hull release; the financiers’ part in the whole process; what is loss adjusting?
– Discussion on how operators and airlines can better protect themselves – should the financiers care? Emergency response planning, audit and information procedures, reviewing contractual risk and exposure.
– Negligent Entrustment – The Cook County Judgement
– Criminalisation of aircraft accidents in Europe
– Aircraft repossession insurance
– Recent examples
For more information and registration about the Agenda and to Register: