Privately operated aircraft are increasingly a vital option for many individuals and businesses.
The decision to operate an aircraft at the corporate level in today’s marketplace requires a great deal of thought and planning. Among the considerations which need to be evaluated are a host of risk management and assessment decisions. These key decisions have to be made at acquisition and throughout the ownership and operation of a corporate aircraft.
Among key considerations are the following:
- Aircraft Hull Valuation and Replacement )
- Aircraft Liability Limit and Applicable Limits for Guests and/or Passengers
- Replacement Aircraft
- Applicable Territorial Limitations and Applicable Liability Exclusions
- Lessor and/or Institutional Finance Requirements Depending on Aircraft Transaction
- Coverage for Spare Part, Engines and Components
- International Coverage Requirements When Operating Overseas
- Loss Control Considerations and Claims Procedures
SEMA Insurance is well prepared to assist in addressing the many issues which arise during the operation of corporate aircraft.