Contingency and Repossession Coverage

(contingent and repossessed coverage)

This coverage involves an aviation insurance policy for the hull and liability risk (including war risks) tailored to the specific needs of banks and leasing companies.

Thus, for example, contingency coverage offers insurance protection in the event that the lessee's original policy defaults or the sum insured is inadequate.

Repossession coverage automatically takes effect when an aircraft goes into the owner's custody again, whether scheduled or unscheduled, e.g. on expiry of the leasing contract or in the event of bankruptcy/grounding of the lessee.