Executive aviation is a special category of General Aviation, where the aircraft is used for the transportation executives or guests on a non-profit basis. It accounts for 0.2% of GDP at European level.
In view of the importance of this sector in the economy in general, and the involvement of large corporations in particular, MAPFRE Global Risks has designed a series of coverages that include the possible risks that can arise during the private flight of a senior executive.
Executive aviation is also referred to as “on demand” since, in contrast to regular air transport, it is the actual company that defines the schedules and dates with the aim of making maximum use of the available time. Amongst its advantages, is a greater guarantee of safety and this is where our services come into play.
In Aviation and Space, we provide protection against any risk that occurs in the executive aviation sector. We assist the client in all their specific insurance needs. We would highlight the hull all risks and war coverages which include spares, third party and passenger liability or liability arising from war risks.
With regard to hull covers, we include all loss or damage suffered by the insured aircraft as a result of an ordinary risk, terrorism, strike, kidnap, etc. In this respect cover is provided for damage caused both in flight, when grounded or whilst moving on land.
Moreover, we also cover spares, machinery, parts or equipment that is lost or damaged during an insured incident. Coverage also extends to storage or transportation of such items, however carried out.
Similarly, we offer legal liability coverage for both crew members and passengers for damage or personal injuries suffered on board the aircraft. This coverage will usually include medical expenses.
In MAPFRE Global Risks not only do we take into account those coverages required to guarantee the normal functioning of our clients activity but, as added value, we also provide risk assessment advice.