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 AIG Australia > For Businesses > Assets > Aviation
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What is it?
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Aviation insurance protects individuals and businesses within the aviation industry
such as aircraft owners and operators, airport owners and operators, and aircraft product
manufacturers to name a few.
It offers protection against the financial consequences of being sued by third parties
and passengers for liability arising from the operation of aircraft, airport facilities
and the provision of goods and services to the aviation industry. In addition it provides
protection to aircraft owners to cover physical loss of or damage to their aircraft.
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Why do you need it?
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Aircraft operators who carry passengers for hire or reward must have passengers insurance
in place in accordance with the Civil Aviation (Carriers Liability) Act for injury
and death to passengers. Airport operators and service providers could be held liable
for major losses including aircraft accidents, security incidents, as well as more minor
incidents such as falls in terminals and lost baggage. Faulty aircraft products could
compromise the safe operation of an aircraft. The financial implications of being held
liable in any of these instances can be severe and damaging to your business.
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Who needs it?
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Aircraft owners and operators, airport owners and operators, repair and overhaul facilities,
airport ground handlers, hangarkeepers, aircraft product manufacturers and distributors,
caterers for aircraft, and others in the aviation industry need Aviation Insurance to protect
their business interests.
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Why use AIG Australia?
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We provide covers that meet the specific needs of the aviation industry.
Supported by the broader AIG range of Property, Casualty, Private Client Group,
Marine & Energy lines of business, AIG Aviation can offer clients, in particular
private clients and major corporate clients, aviation cover that complements
and supports their other insurance needs.
We have an ability to take on large and complex risks in the Aviation market
and offer market leading capacity for both hull and liability coverages.
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