MANUFACTURERS PRODUCT LIABILITY INSURANCE Description Coverage Statistics Questions to ask an expert General Tips Products and Services Books and Publications Click to Go To The Expert

Description
This type of insurance is essential for the manufacturer of aircrafts, its components and related equipment. In addition, it is also necessary for those engaged in selling airplanes, its parts or fuel, and for individuals who repair and/or maintain the aircrafts.

There are different laws, federal regulations and considerations for commercial airliners versus small planes.

General aviation refers to aircraft such as small planes that seat less than 20 passengers and were not engaged at the time of the flight in scheduled passenger-carrying operations. It includes helicopters, as well. Knowledgeable brokers can assist in the process of identifying what type of coverage is necessary on a case by case basis.

Coverage
This policy protects parties from claims arising from injury or damage caused by defects in the products sold or manufactured or from improperly completed operations. Manufacturers, distributors and sellers can be open to liability even if it is proven that the product was used improperly.  Insurance coverage will cover their legal fees needed for defense against claims and class action suits

Statistics
Though air traffic is considered to be a safe means of transportation, accidents do occur. Some of the more common causes of many of these incidents are faulty equipment and structural or design problems.  Aviation products can cause catastrophic accidents as the result of relatively minor failures.

Questions to ask an expert
 •  What kind of compensation or damages can be awarded in products liability cases?
 •  Who specifically can be held liable in an air crash?
 •  How do I identify my risk exposure?

General Tips
  •  Know the laws of your state – each jurisdiction will differ as to what damages may be recovered and many states impose caps on certain damages that can be recovered.
  •  Detailed understanding about aviation and the rules and regulations of the FAA and specific laws related to aviation is necessary to make sure you are properly insured
  •  Keeping organized records of pilots’ information, operators information is important should the case ever go to litigation.

For assistance with all the above tips and more GoToTheExpert.com

Products and Services
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Books and Publications
  •   Introduction to Aviation Insurance and Risk Management, Second Edition (Hardcover)