Skip to Content

Aerospace

Coverage 

  • Agriculture Aerial Applicators
  • Aircraft Product Manufactures
  • Aviation Workers Compensation
  • Charter/Air Taxi
  • Commercial and Private Airports
  • Commercial General Liability
  • Corporate Aviation
  • EMS Operations
  • Executive Transportation
  • Fixed Based Operators
  • Ground Handlers and Service Providers
  • Major and Commuter Airlines
  • Non-Owned
  • Pleasure & Business Aircraft
  • Space
  • Unmanned Aerial Vehicles (UAVs)

Available Limits and Capacity

Up to $1B any one occurrence for General Aviation, Component Products, and Airports

Up to $100M in hull coverage for General Aviation

Ability to offer high limits across all other lines

Capacity 

Minimum Premium 

No minimum premium on most policy forms

Minimum Retention 

N/A

Minimum Deductible 

N/A

Targeted Classes/Industries 

Aviation Products Manufactures – Component Parts, Unmanned Aerial Vehicles (UAVs), Non-Owned Aviation, Small to Medium Airports (excl. Major Hub), Industrial Aid (Corporate Aviation)

Targeted Geographies 

Global

Excluded Classes/Industries 

N/A

For over 70 years, AIG has been providing insurance solutions for virtually all risks, in just about all classes of business, in the Aerospace industry. Our technical expertise, safety and loss control services, and global claims capabilities enable us to tailor coverage to meet the specific needs of our customer and strive to deliver the best possible outcome in the event of a claim.

In the event of a claim, AIG will confirm coverage under the policy, Loss Payee, Title & Ownership interest as quickly as reasonably possible. Once coverage, ownership and financial interest in the aircraft is confirmed, AIG promises to provide the Policyholder with immediate working funds of 50% of AIG’s share of the agreed amounts within 7 days for:

  • Agreed Hull value
  • Aircraft / Salvage Recovery
  • Debris removal and crash site clean up


Power Outage of Aircraft:
An insured aircraft lost power after take-off and crashed into a building damaging other property while traveling within Guatemala. The insured was a U.S. Citizen traveling from Texas to Guatemala on business. After the loss, the insured was held by authorities and contacted his broker for assistance. Our claims adjustor responded promptly in this crisis situation to provide the Guatemalan authorities with required information to allow the insured’s release to return to the US. The claim was resolved and no further actions were required.

 

Tendered Claim:
An insured code share partner with a major airline received a tender of claim notice from the insurer for the airline. Understanding the close relationship of the two entities, the adjustor and local counsel assisted insured’s management in responses to the tender. Without opening a claim, the work performed ultimately allowed for the tender to be withdrawn. The service maintained the relationship of the two partners, and saved time and investigation expense.

Our highly experienced and dedicated aviation underwriting and risk engineering professionals have the technical knowledge and expertise to tackle your challenges across a broad product line offering.

 

A Multinational approach that allows us to provide global coverage with local policies to meet the needs of our customers virtually anywhere they operate.

 

Quick to market with innovative technology to address and help mitigate the risks associated with trending exposures, such as unmanned aircraft systems.

 

A market leader for over 70 years in the Aerospace industry with extensive experience handling minor and major complex claims; clients benefit from 24/7 365 access to our highly responsive and experienced global claims team.

 

Client Risk Solutions (CRS) brings together AIG’s world-class services, technology and expertise to create tailored, outcome-based risk management programs for our aviation clients.

 

Significant capacity in all aviation segments - up to US$1billion any one occurrence / US$100 million any one hull (value of aircraft) for select classes of business.

Interested in Aerospace Insurance?