Aviation Professional Services Liability Insurance
Insurance to Protect Aerospace Related Businesses
Aviation professionals such as auditors, engineers, safety experts, consultants, maintenance providers, FBOs and aircraft sales dealers may not have adequate insurance protection for financial losses arising from their services. The Global Aerospace Aviation Professional Services (APS) Liability insurance policy provides these professionals with insurance for financial loss and defense costs arising from acts, errors or omissions in the performance of aviation professional services.
We live in a fast-paced business world where mistakes can and do happen. Some examples include inadequate pre-buy inspections, improper engine overhauls or the inadvertent disclosure of confidential information. While bodily injury or property damage do not occur in these scenarios, the circumstances can cause disruptions for clients and adversely impact their financial success. Global Aerospace has developed this new offering to address these risks.
The Global Aerospace Aviation Professional Services policy is a claims-made form that affords insurance for financial losses arising from wrongful acts. Financial loss means any loss which is measurable in monetary terms but which does not occur as a result of bodily injury or property damage. Wrongful acts are errors or omissions committed by an insured which arise out of the rendering of or failure to render aviation professional services. A key feature of the Global Aerospace APS policy is that defense costs are paid in addition to the limits of liability, making the product even more valuable to clients. APS Liability insurance is currently available in most US states.
How much coverage is available?
- Limits of Liability from $250,000 to $10,000,000
- Multiple deductible options
What is covered?
Certain claims arising from:
- Errors or omissions
- Breach of professional duties
- Unintentional breach of confidentiality
What is not covered?*
Any claims arising from or related to:
- Breach of employment contract or similar
- Fraudulent, dishonest or intentional acts
- Insolvency, bankruptcy or liquidation of the Insured
- Loss, distortion or erasure of computer records
- War and allied perils, noise and pollution, nuclear risks, asbestos
*Please refer to policy for a full list of exclusions.
To learn how aviation businesses can benefit from Aviation Professional Services Liability insurance, contact one of our specialty Underwriters directly