Abstract

The core business of insurance is the undertaking of risk by insurers for reward in the form of premiums. In the realm of aviation insurance, airlines, aviation products manufacturers and other service providers typically contract with insurance companies to cover the risks attendant to their operations by way of hull and liability policies. Hull policies usually provide for replacement or repair of the insured aircraft at the insurer’s expense, whereas liability policies cover the insured’s liability to third parties arising from the use of the aircraft or the air transport services provided. However, not all risks can be comprehensively insured by the conventional insurance market. Whereas some types of risk are generally considered to be outright uninsurable, other types may be insurable but only to some extent.

Keywords

Systemic Risk Insurance Market Liability Policy International Civil Aviation Organization Draft Convention 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer-Verlag Berlin Heidelberg 2013

Authors and Affiliations

  • Yaw Otu Mankata Nyampong
    • 1
  1. 1.Faculty of LawMcGill UniversityMontrealCanada

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