1 / 1 pts
Which of the following had 96 regular and 182 associate member companies at the beginning of
General Aviation Manufacturers Association
Aviation Aerospace Manufacturers
Legacy Air Carriers
Aerospace Industries Associ
1 / 1 pts
Which major aviation insurer's policies are issued through American Home Assurance Company,
National Union Fire Insurance Company of Pittsburgh, The Insurance Company of the State of
Pennsylvania, and the New Hampshire Insurance Compa
Basic Insurance Terms and Principles
1. Define risk as it relates to insurance. (2 points)
Risk encompasses multiple things. The things most definitions of risk encompass are the fact
that there is some level of uncertainty about w
Which aviation insurance company started an airport and special risk division in 1995?
Phoenix Aviation Managers, Inc.
AIG Aviation, Inc
Lloyd's of London
Avemco Insurance Company
1 / 1 pts
Who is a world leader insuring approximately
In 1985 how many private suits were tried in state courts?
1 / 1 pts
Which group of underwriters was initially made up of four fire insurance companies and four
1.1 Reading Review
1 / 1 pts
During the 1990s, what type of coverage remained the most underfunded side of the pricing
equation even though hull rates were still not considered adequate?
Ground risk coverage
AVSC 3020 Module 3 Assignment: Assessing Insurance
Needs Instructions: Fill out each chart below with the
required information. Scenario 1:
Who needs coverage?
What should be covered?
Why is this coverage needed?
SLCs Million Air
Transport route service
Basic Insurance Terms & Principles
Define risk as it relates to insurance. (2 Points)
The risk in insurance is the uncertainty of the loss, such as natural disasters,
accidents or events. It includes underwriting risk, management risk, investment risk a
As a sales team for a scenic flight company, our team has always be one of the best. As a
sales representative, you are at the heart of the company. We hire you because of your
excellent working ability. If without your efforts, we couldn't ha
Identifying & Managing Risk
Scenario 1: Flight Instruction
Identify all of the potential risks found in the scenario. Wherein lies the risk? Classify
each risk youve identified according to the type of loss that may occur
Jonathan ( key person) set a long
The aircraft is a more dangerous vehicle, so there are many matters need pilots pay
attention when they are flying, which is also more demanding than a car or train. Aircraft
insurance rates are the proportion of insurance premiums p
Where is third party liability coverage written?
During what years did launches drop back to the 15 launches per year range as a result of the
bankruptcy of Iridium?
What are the most popular employee benefit coverages?
Group life insurance
Group medical expenses
Which of the following is designed to cover the liability of the employer to workers with standard
10.1 Reading Review
Which of the following are segments of coverage of aerial application aircraft?
Excess liability coverage
Chemical liability coverage
Third-party liability coverage excluding chemical liability insurance
1 / 1 pts
Which of the following acquisitions or mergers occured in the aviation insurance business in the
Southeastern Aviation Underwriters was acquired by the American International Group
Nationwide Mutual Insurance company acqu
Frequency, severity, variations, and impact are aspects of which step of the risk management
Periodically evaluate the program
Review risk handling techniques
Select specific techniqu
What is the unintentional parting with something of value?
What is a device for reducing risks by combining a sufficient number of homogenous exposure units
to make their individual
What is the process of deciding whether to accept or reject an application for insurance?
What is the common denominator that permits the insurer to classify risks and make comparis
Which of the following aspects of negligence includes almost any act or thing that endangers life or
health, offends the senses, or damages or interferes with the use of property?
Res ipsa loquitur
Negligence per se
Concealment is a positive misstatement of fact, whereas misrepresentation is the failure to speak
when there is a legal duty to do so.
Which characteristic of the insurance contract contains legal importance because the ap
Mikes longtime friend is visiting for the weekend. He also is interested in aviation and is just about to
take his checkride to obtain his CFI rating. He wants to borrow your plane to practice for his
upcoming test. Where would Mike check his p
Which of the following are legal liability coverages available for aircraft liability insurance?
Passenger bodily injury
Bodily injury excluding passengers
Action against the company
Which of the foll
11.1 Reading Review
Which of the following are included in aircraft products coverage?
Sale of new and used aircraft
Sale of fuel and oil
Sale of aircraft parts and accessories
Sale of maintenance and repair tools
12.1 Reading Review
Under the spares endorsement, the insurer will cover any consequential loss of any nature.
Which of the following parts of the commercial property policy show the policy period, usually one
year, and th
The Airport Security Coordinator
To help achieve the vision of the airport providing warm, enthusiastic experiences in
exceptional places, the operations coordinator provides a safe and effective airport operation.
To ensure compliance with