Overview
Aviation insurance is a highly specialised class of insurance involving complex operational risks, substantial financial exposures, international legal obligations and specialised underwriting and claims management practices.
This course provides a comprehensive understanding of the principles and practices of aviation insurance, examining the nature of aviation risks, the international regulatory and liability frameworks governing aviation activities, and the insurance arrangements designed to protect aircraft operators, aviation businesses and other stakeholders.
The course explores aircraft operations and aviation safety, risk management and loss prevention, and the application of international conventions and national legislation affecting aviation liability. It examines the scope of aviation insurance coverage, including aircraft hull, passenger and third-party liability, war and allied perils, airport liability, cargo-related exposures and associated specialist covers.
Particular attention is given to aviation insurance market practices, policy clauses and endorsements, underwriting and rating considerations, aircraft financing and leasing arrangements, and the role of reinsurance in managing aviation exposures.
The course also addresses aviation insurance claims investigation, assessment and settlement, including the responsibilities of investigating authorities, surveyors and other parties involved in claims handling. In addition, it introduces space insurance, covering satellite and launch-related risks, underwriting considerations, insurance protection and claims procedures.
Designed for insurance professionals, underwriters, brokers, claims practitioners, risk managers and other professionals involved in aviation-related insurance, the course develops the technical knowledge and practical understanding required to assess aviation exposures, interpret insurance arrangements and support informed underwriting, risk management and claims decisions.
Download BrochureLearning Outcomes
On completion of this course, you should be able to:
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Analyse aviation risks and safety considerations, including aircraft characteristics, operational hazards, accident causation, risk management techniques and measures for preventing and reducing aviation losses;
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Explain the international legal and regulatory framework governing aviation insurance, including major aviation conventions, passenger and third-party liability, national legislation and the responsibilities of relevant aviation authorities;
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Evaluate the scope and application of aviation insurance coverage, including aircraft hull, aviation liability, war and allied perils, airport liability, cargo-related exposures and associated specialist insurance covers;
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Interpret aviation insurance policy provisions and market practices, including standard clauses, endorsements, exclusions, deductibles, contractual obligations and aircraft financing and leasing requirements;
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Assess aviation insurance underwriting and risk financing considerations, including exposure evaluation, rating factors, underwriting practices, market participants and aviation reinsurance arrangements;
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Explain aviation insurance claims investigation and settlement procedures, including hull and liability claims, the roles of investigating authorities and surveyors, policy interpretation, claims documentation and settlement considerations; and
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Describe the principles and practices of space insurance, including satellite and launch risks, regulatory considerations, insurance coverage, underwriting factors and claims handling procedures.
Course Outline
- 1.1: Learning Objectives
- 2.1: Aircraft
- 2.2: Types of Aviation Risks
- 2.3: Measures taken to Prevent and Reduce Air Casualties
- 2.4: Risk Improvements in Global Air Navigation
- 3.1: International Conventions, Protocols and Agreements
- 3.2: Aircraft Legislation
- 3.3: UK/EU/USA Legislative Systems
- 3.4: Legal and Litigation Issues in the US
- 3.5: Roles and Responsibilities of Government Agencies
- 4.1: Main Aviation Cover
- 4.2: Related Classes
- 5.1: Market Practice
- 5.2: Underwriting
- 5.3: Specific Aviation Reinsurance Considerations
- 6.1: Investigating Parties, Handling and Settlement
- 6.2: Survey Report and Other Documents Required
- 6.3: Application of Aviation Clauses Cover and Policy Exclusions
- 6.4: Claim Repudiation and the Ombudsman for Financial Services
- 7.1: The Satellite and Space Industry
- 7.2: Launching and In-Orbit Operations
- 7.3: Space Insurance Coverage
- 7.4: Underwriting Factors and Considerations
- 7.5: Claims Handling Procedure
