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Aviation insurance provides coverage for hull losses as well as liability for passenger injuries, environmental and third-party damage caused by aircraft accidents. Aviation insurance is insurance coverage geared specifically to the operation of aircraft and the risks involved in aviation. Aviation insurance policies are distinctly different ...
Parametric insurance. Parametric insurance (also called index-based insurance) is a non-traditional insurance product that offers pre-specified payouts based upon a trigger event. [1] Trigger events depend on the nature of the parametric policy and can include environmental triggers such as wind speed and rainfall measurements, business-related ...
An FMS is a specialized computer system that automates a wide variety of in-flight tasks, reducing the workload on the flight crew to the point that modern civilian aircraft no longer carry flight engineers or navigators. A primary function is in-flight management of the flight plan. Using various sensors (such as GPS and INS often backed up by ...
Insurance underwriters, worldwide, began to refuse to sell product liability insurance to U.S. general aviation manufacturers. By 1987, the three largest GA manufacturers claimed their annual costs for product liability ranged from $70,000 to $100,000 per airplane built and shipped that year. Product liability factors
Index-based insurance, also known as index-linked insurance, weather-index insurance or, simply, index insurance, is primarily used in agriculture. Because of the high cost of assessing losses, traditional insurance based on paying indemnities for actual losses incurred is usually not viable, particularly for smallholders in developing countries.
Aircraft leases are leases used by airlines and other aircraft operators. Airlines lease aircraft from other airlines or leasing companies for two main reasons: to operate aircraft without the financial burden of buying them, as well as to provide temporary increase in capacity. The industry has two main leasing types: wet-leasing, which is ...
Cruise (aeronautics) A Qantas four-engined Boeing 747-400 at cruise altitude. Cruise is the phase of aircraft flight that starts when the aircraft levels off after a climb, until it begins to descend for landing. [1] Cruising usually comprises the majority of a flight, and may include small changes in heading (direction of flight), airspeed ...
Aircraft finance refers to financing for the purchase and operation of aircraft. Complex aircraft finance (such as those schemes employed by airlines) shares many characteristics with maritime finance, and to a lesser extent with project finance. [citation needed]
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