-----Original Message-----
From:
Subject: re Insurance
Re new insurance requirements for European aircraft. best info I have so far
is this quote from my hangar manager!!
Aircraft insurance is all about to change with the new rules that come into
force in May 2005 making mandatory insurance requirements for aircraft
Europe wide. This means that liability will be split, the hull insurance
will be optional as now but the single limit insurance will be split into
Third party and passenger liability and these elements will be mandatory.
The 3rd party minimum requirements are based on the MAUW of the aircraft.
for example an aircraft of 1000kgs but less than 2,700kgs will have to have
insurance of a minimum of 3,000.000 SDRs or Special drawing rights which
equates to about 1.23SDRs equals UKP 1 (3,000.000SDRs equals about UKP
2.500.000.)
The passenger minimum limits requirements will be 250,000 SDRs per passenger
seat (the CAA may go with 100.000 SDRs per seat for private use but this
will only be known later in January) .
A Europa will require the new minimum 3rd party insurance for its weight
class and passenger insurance of one times either 250.000 SDRs or 100.000 if
the CAA allows the lower rate. Plus of course any hull insurance.
The only thing I found out for sure is that it will cost more to insure our
Europa's very soon.
Tim Houlihan
|