Aviation Products Liability is an area where demand is set to increase as insurers look to tighten up their terms and conditions under their normal commercial policy wordings. In the past insurers were generally happy covering products that went into aircraft providing that the item was not considered to be safety critical. However, the directive of insurers is now is to exclude cover for any product that goes into an aircraft irrespective of its function.
The reason behind this, is that should a plane come down, every company that has manufactured a part for that aircraft irrespective of importance or size could feasibly be dragged into a defensive legal action. With specialist aviation lawyers now costing in excess of £200 an hour it doesnít take a rocket scientist to realise the potential for costs to spiral out of hand. This change of mind set by insurers has now left some companies with a hole in their insurance cover and an obvious exposure.
This is where our specialist Aircraft Insurance service can help.
We have good relationships with all the main aviation markets and can source an appropriate solution for you. Furthermore this solution isnít necessarily going to cost you the earth as premiums now can start from as little as a £2,000.
For more details on our Specialist Aircraft Insurance service, please Click Here or call us today on 0333 222 1184