Aviation Insurance in South Africa

Aviation insurance is a highly specialised field – as aircraft owners or operators would tell you

Aviation Insurance
Aviation Insurance - has cover for Pilot,
Engine breakdown, Third party liability etc.

Why Aviation Insurance:

Aviation Insurance is indeed a highly specialised and extremely complex field – it is therefore of paramount importance to only deal with people who have the specialised ability to offer advice on and produce the correct products for the aviation insurance buyer.

Due to airlines and the general aviation sector's specialised nature and insurance requirements, only a select few of the larger insurers in RSA offer aviation insurance solutions. It is therefore common practice for the specialist brokers to also extend their products to insurers abroad.

Aviation Insurance mainly concentrates on general aviation risks. One of the main reasons is the exposure and the cost of reinsurance protection, as aircraft accidents have the tendency to result in large property damage and loss of human life claims.

Accurate information provided to the underwriter is critical to ensure successful and swift claims settlement. However, non-disclosure of any material information will lead to underwriters repudiating a claim.

DIB Solutions (Pty) Ltd have partnered with reputable underwriters and various insurance companies in order to assist our clients with appropriate Insurance cover – we can therefore also assist clients with tailor-made products (where applicable) at competitive premiums. We provide a professional and personal service, as well as build long-term relationships with our clients. There are a few product options you may consider in this specialised field – therefore discuss your individual needs with one of our experts.

Factors that influence Aviation Rates

There are a number of factors that may influence rates and premiums which include:
  • Age and type of aircraft operated;
  • Competition within the insurance market;
  • Specific claims history or as a whole;
  • Size of risk exposure;
  • The availability of capital – commonly referred to as capacity;
  • The price of reinsurance protection;
  • The country or region where the aircraft is being operated;
  • Other factors may include: Utilisation, crew training and maintenance.

Also note some of the important considerations when looking for Aviation Insurance:

  • Cover for the person may include: Pilots loss of license, pilots and crew personal accident cover;
  • Cover for airports may include: Airside legal liability; Ground handlers liability; Airports owners and operators legal liability; Premises and hangers and product liability.
  • Cover options for the aircraft to consider, are:
    • Hull war, Hull all risks;
    • Third party liability and/or Passenger and legal liability;
    • Deductible buy down;
    • Engine breakdown;
    • Pilot Excess Insurance.
  • Optional cover can be obtained for excess insurance (eg. Pilots, student/private/professional pilots and owners), as well as for aircraft owner's and operator's liability.
  • Rates are normally influenced by some the following factors:
    • Cost of reinsurance;
    • Claims history;
    • Size of risk;
    • Country or region of use;
    • Training (crew);
    • Maintenance;
    • Age of the aircraft and/or type of aircraft;
    • Availability of capital.

Please contact us today for fast, friendly, professional advice and service!

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