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Insurance for the aerospace sector
Aerospace is a specialist market sector: few insurers underwrite these risks, limits are high and contractual and regulatory requirements are strict.
Activities we advise on
Oller Brokers has been an insurance broker since 1952. It advises companies in the aerospace sector on the design, placement and review of their insurance programmes, with access to more than 70 insurers.
We advise manufacturers, maintenance workshops and operators. We access specialist insurers and the Lloyd's market through coverholders, and we review the entire programme or a specific policy.
- Manufacturing and maintenanceAerospace components and structures, engineering firms, maintenance workshops, etc.
- Business aviation and dronesBusiness and private aviation, flight schools, professional drone operators, etc.
Risks and cover
Choose a risk to see which insurance covers it in the programme of a company in the sector.
Risk
Product liability
Aerospace parts carry potentially very serious consequences and require high limits.
How it is covered
Risk
Damage to third-party aircraft
Workshops and ground operators are liable for aircraft in their custody.
How it is covered
Risk
Damage to own aircraft
Hull cover for aeroplanes, helicopters and drones, in flight and on the ground.
How it is covered
Risk
Third-party liability
Injury to persons or damage to property caused by operations.
How it is covered
Risk
Contractual requirements
Customers and airports require specific cover and certificates.
How it is covered
Insurance they typically need
Every company is different. These are the policies that carry most weight in the programme of a company in the sector.
- Aviation liabilityDamage to passengers and third parties caused by flight operations.
- Product liabilityDamage to third parties caused by products manufactured or sold.
- Aircraft and drone hullDamage to the aircraft itself, in flight and on the ground.
- All risks property damageBuildings, machinery and stock against any damage not excluded.
- Goods in transitDamage to or loss of goods during transport.
- International programmesCoordinated cover for subsidiaries and activities in other countries.
- D&OClaims against directors and officers for their management decisions.
Two ways to get started
Full programme review
We analyse all your policies together: duplicated cover, gaps, sums insured, deductibles and exclusions. We then present alternatives from different insurers.
Review of a specific policy
A renewal with a premium increase, a contract requiring new cover or a poorly resolved claim. We examine that policy and look for better terms.
Large risk programmes
A medium-sized or large company does not need a stand-alone policy, but someone to design, place and defend a complete programme. That is what we have been doing since 1952. See more
- Risk analysisWe study the business's activities, facilities, contracts and claims history. Working with specialist firms, we also offer a risk management service.
- Properly valued sums insuredWe review insured values and business interruption so that a claim payment is not reduced due to underinsurance.
- Access to the whole marketMore than 70 Spanish and international insurers, underwriting agencies and Lloyd's through coverholders.
- Co-insurance and excess layersWhen a risk exceeds one insurer's capacity, we spread it through co-insurance and structure it in as many excess layers as needed.
- International programmesFor groups with subsidiaries outside Spain, we coordinate international programmes that comply with each country's regulations.
- In-house claims teamSupports the business from notification through to settlement and defends its position with the insurer.
Frequently asked questions
Does a professional drone need insurance?
Drone operation regulations require liability insurance in many cases. We check what is required for your operation and what limits it is advisable to take out.
What is hull insurance?
Insurance that covers damage to the aircraft itself, whether an aeroplane, a helicopter or a drone.
Why does it cost more to insure an aerospace risk?
Because few insurers underwrite it and limits are high. Approaching several specialist markets helps improve terms.
Other sectors
Can't see your sector? We work with businesses in every field.
Let's talk about your business
We review your insurance programme, or the policy you're concerned about, with no obligation.