Hyderabad Air Show Tragic : "Two pilots and a civilian were killed after a naval aircraft crashed on a nearby residential building near Begumpet airport during an air show in Hyderabad on Wednesday morning" city police s

The risks involved include: Liability against loss of life of the pilots Liability against loss of life/disability of the third party Loss of property/damage to aircraft Liability against loss of property of the third party Aviation Insurance can very well come to the rescue in such cases. The firm which owns the air craft has the primary responsibility to take insurance. The organizers of the event are also liable to arrange for compensation for the affected parties. The most common coverages of aviation insurance are: Aircraft liability insurance Hull coverage Personal accident The premium rate for each aircraft is driven by international reinsurance markets, mainly @ UK, based on the world trend in claims experience during the preceding years. Aircraft Liability Insurance The liability in case of aviation insurance is divided into two categories: Passenger liability Death and injury to third parties There are some policies that cover both these categories as well as property damage with a single limit to cover all three of them (like floating policies in fidelity guarantee). Admitted liability Here specific amounts are allocated beforehand to the various kinds of injuries like the loss of a limb, eye or life. The policy is written on a 'per seat' basis. In case of an accident, the insurer offers the payment along with the release of liability against the insured. The injured party is required to sign the release against the insured if he wants payment from the insurer. Medical Payments The aircraft liability insurance also provides coverage of medical payments for injuries sustained while travelling in or entering or alighting from the aircraft. This policy coverage is available only if the policy includes passenger bodily injury liability. Hull coverage Hull refers to the body and machinery of the aircraft. Some policies provide open perils coverage both on ground and in flight whereas others restrict the open perils coverage to ground only.