AVIATION INSURANCE

PRODUCT DISCLOSURE SHEET

(Please read this Product Disclosure Sheet before you decide to take up the Aviation Insurance. Be sure to also read the general terms and conditions.)

What is this product about?

This policy indemnifies you against :-

(i) all risks of accidental loss of or damage to the aircraft including disappearance and/or flight risks;
(ii) your legal liability for damage due to accidental bodily injury and property damage caused by the aircraft or any person or object falling therefrom;
(iii) bodily injury suffered by the passengers whilst entering, on board, or alighting from the aircraft including loss or damage to their baggage and personal articles.

What are the covers / benefits provided?

This product covers:

• Hull All Risks: Covers physical loss or damage to their aircraft while on the ground and while it is in flight.
• Spares: Covers “all risks” of physical loss or damage arising when not deemed to form part of an aircraft (i.e. removed from aircraft and replaced).
• Aircraft Liability: Covers bodily injury or property damage which is caused by an occurrence and arises out of the operation or use of the operators aircraft.

Optional benefits you may wish to purchase by paying additional premium:

• Aviation War, Hi-Jacking and Other Perils Excess Liability (Excess AVN52E): Covers liability of the Insured in excess of the primary Hull & Liability policies containing the extended coverage Endorsement (Aviation Liability) AVN52E
• Hull War Risks: Covers against acts of war and malicious damage that are typically excluded in an ‘all risks Hull and Liability’ policy.
• Hull Deductible: “Buy Down” cover to reduce the Hull Deductible applicable in the Hull and Liability policy in the event of a partial loss extending from Hull All Risks.
• Personal Accident (on board): Covers the insured person On Duty, but 24 hours a day whilst away from home base.

Duration of cover is for one year. You need to renew the insurance cover annually.

How is the premium rate factor?

The premium you have to pay may vary depending on:

• fleet size / value
• Aircraft value and age
• Aircraft type
• Area and nature of operation
• Utilisation
• Maintenance, pilots etc.
• Past Loss record

What is the payment mode and how do I pay the premium?

This is an annual policy and you may pay your premium either by cash, or cheque or bank transfer

What are some of the key terms and conditions that I should be aware of?

• Duty of disclosure

• You must give all the facts which you know or ought to know –which may impact an insurers
  decision to provide coverage and rate the risk.
• You must ensure that the proposal form is completed accurately as it forms the basis of the insurance contract.

• Claims

In the event of an accident, please immediate notification of any potentially serious incident to the insurance company, nominated Surveyors/Lawyers and call our 24 hours claim hotline _ immediately and provide the following:

• Aircraft type
• Aircraft Registration Number
• Date and Time of accident
• Brief details of cause
• Extent of damage or injuries / deaths
• Flight details including departure point and destination
• Names of senior persons at location of incident and method of contacting them

Any accident involving an aircraft owned by others but chartered by or in the care, custody or control of the airlines must be advised immediately to the owners of the aircraft. Media control is also important in Claims procedure.

• Deductible/Excess

This is the amount you have bear before we indemnify you of a loss.

• Premium Warranty

Premium must be paid and received by us within 30 days from the inception date of the cover or the premium installment due date, otherwise the cover is automatically cancelledand you will still be responsible to pay the proportion of premium for the period we have been on risk.

What are the major exclusions under this policy?

This insurance does not cover certain losses, such as:-

• Non-Aviation” risks e.g. Employers Liability (Workers Compensation Act).
• Motor Liability (RTA) i.e. vehicles on public highway. However, this exclusion does not apply to vehicles within the airport confines
• Damage to property owned, leased, rented or occupied by the insured (not deemed to be aviation risk)
• Loss of Use of the aircraft
• Nuclear risks (AVN38B)
• Noise, pollution, contamination (AVN46B)
• Asbestos exclusion

Note: This list is not exhaustive. Please refer to the policy contract for the full list of terms and conditions under this policy.

Can I cancel my policy?

Cancellation is allowed based on the cancellation provision of the policy. Cancellation is typically by mutual agreement of the insured and the insurer. For cancellation of policy mid-term, the short period rate table as stated in the policy will be applied to derive at the premium on risk.

Who can purchase Aviation Insurance?

• Private Aircraft Owners
• Airlines – International, Regional or Domestic
• Corporate Aircraft Operators
• Charter/Air Taxi Aircraft Operators
• Helicopter Operators

Where can I obtain further information?

If you have any enquiries, please contact us at:

Customer Service
Dara Insurance Plc
Canadia Tower, 3rd Floor
No. 315, Corner of Ang Duong St.and Preah Monivong Blvd.,
Sangkat Wat Phnom, Khan Daun Penh, Phnom Penh, Cambodia.

Tel : 023 901 353
E-mail : enquiries@darainsurance.com.kh
Website: www.darainsurance.com.kh