Aviation war risk

Aviation war risk forms a market of its own, with its own underwriters, capacity and terms, because the ordinary hull policy excludes it. It covers destruction of the aircraft by act of war, terrorism or hostile fire, but also events involving no physical destruction: confiscation, nationalization, requisition by the state of registry, or prolonged deprivation of possession beyond a waiting period, typically twelve months. That deprivation cover became the heart of the subject once aircraft found themselves stranded abroad without being destroyed, a situation in which the boundary with all risks cover becomes the main issue in the file. Rating follows the map of excluded areas and is revised during the year, the contract providing a seven day cancellation notice that makes capacity reversible. The problem solved is a peril that is not random in the actuarial sense, being correlated with a state's political decision and therefore impossible to pool like an accident.

Ukraine International Airlines flight 752, shot down by two Iranian missiles on January 8, 2020 shortly after takeoff from Tehran with 176 people aboard, fell to hull war cover rather than all risks: Iran acknowledged the launch three days later and offered in 2020 compensation of 150,000 dollars per victim, which several states rejected.

corps-guerre aviation, garantie de privation de possession