Object of Insurance
The object of insurance is the property interests of the Policyholder (Beneficiary) related to the ownership, use, and disposal of the aircraft or its individual unit specified in the insurance contract, resulting from its destruction, missing in action, or damage.
Insurable Items
Under this type of insurance, the following may be insured:
Aircraft (of civil, state, and experimental aviation) that have a state registration certificate, an airworthiness certificate (license), or other documents replacing them;
Individual aircraft units installed on board the aircraft and having duly executed documents (passport, log book, etc.).
If the object of insurance under the insurance contract is an individual unit, the provisions regarding the aircraft apply to the insured unit.
The insurance contract may provide for the insurance of one or more aircraft or units.
INSURANCE RISK AND INSURED EVENT
Insurance under this type is provided for the occurrence of an insured event, namely:
Risks of destruction (total or constructive), missing in action, or damage to the aircraft as a result of an accident occurring during the period of insurance.
An Insured Event is the destruction (total or constructive), missing in action, or damage to the aircraft as a result of an accident occurring during the period of insurance.
For an individual unit removed from the insured aircraft, insurance coverage applies provided that such a unit has not left the airport territory, has not been installed on another aircraft, or another unit has not been installed in its place.
The destruction (total or constructive), missing in action, or damage to the aircraft as a result of an accident occurring during a test flight after emergency repairs carried out due to an insured event is considered an insured event if the accident occurs within the term of the insurance.
SUM INSURED
The Sum Insured is a monetary amount determined by the insurance contract, based on which the amounts of the insurance premium and the insurance payment upon the occurrence of an insured event are established.
The sum insured is established by the insurance contract by agreement of the parties, based on the insurable value. The sum insured must not exceed the insurable value of the aircraft.
The sum insured is established in Kyrgyz soms. By agreement of the parties, the insurance contract may specify the sum insured in foreign currency, the equivalent of which is the corresponding amount in soms (hereinafter – insurance with a currency equivalent).
INSURANCE RATE
The Insurance Rate is the rate of the insurance premium per unit of the sum insured, taking into account the object of insurance and the nature of the insurance risk. The specific amount of the insurance rate is determined by the insurance contract by agreement of the parties.
INSURANCE PERIOD
Any term agreed upon by the Policyholder and the Insurer, including for the duration of one flight (operation) or several flights (operations).
For more detailed information, call us at the following numbers:
+996 (312) 39 82 24, +996 (312) 39 82 78