*14 / 15 TB - Aviation Insurance Flashcards Preview

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Flashcards in *14 / 15 TB - Aviation Insurance Deck (10)
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1

Most aircraft hull policies are written on a:


Replacement cost basis

Market Value

Valued Basis

Actual cash value basis

Valued Basis

2

A deductible that is commonly used in aircraft physical damage insurance is usually:


A percentage of the value

A flat deductible

A disappearing deductible

A franchise deductible

A percentage of the value

3

Th hulk physical damage deductible applies to which of the following losses?


Pilferage

Fire

Collision

Fire and explosion (except when caused by collision)

Collision

4

The covers territory for aircraft coverage does not include which of the following?


United States

Canada

Mexico

Puerto Rico

Puerto Rico

5

Which of the following describes admitted aircraft liability?

Negligence is not a factor

Must prove legal liability

Based on a board review

Based on a limited threshold of damage

Negligence is not a factor

6

What coverage under aircraft coverage can cover injuries to crew members as an optional coverage?


Liability coverage

Admitted liability

Medical payments

Workers compensation

Medical payments

7

What type of physical damage coverage is needed by a company that repairs aircraft for damage to customers property?


Garage liability coverage

Hangarkeeper's liability

General Liability

Garage keepers legal liability

Hangarkeeper's liability

8

Aircraft liability coverage is very similar to auto insurance coverage with the following exception:


Usually written with a deductible

Does not apply to property damage of others

Liability to passengers is treated as a separate exposure

Cannot exclude passenger liability

Liability to passengers is treated as a separate exposure

9

Which of the following is not covered under aircraft hull insurance?



Personal effects

Fuselage

Wheels

Propeller

Personal effects

10

Which of the following statements regarding Aircraft Insurance is incorrect?


The physical damage covered is written with a flat deductible

Coverage for passengers can be excluded

Special coverage must be arranged for air meet liability

Wear and tear is excluded

The physical damage covered is written with a flat deductible