Georgia USA-based insurer Phoenix Aviation Managers said that it is introducing a new policy for manufacturers of non-critical aircraft parts and components called Aviation Manufactured Products Liability coverage.
According to the firm, the coverage is aimed at manufacturers supplying component parts to the aerospace industry, and is an important consideration when evaluating potential exposures to its business.
Phoenix Aviation said that its new policy offers the key coverages to protect manufacturers against third party legal liability arising from physical damage or bodily injury as a result of an alleged product failure.
The overage liability limits up to USD 50m CSL including property damage, bodily injury and grounding liability, personal and advertising injury coverage, airport premises liability coverage and non-owned aircraft coverage, among other features.
Phoenix Aviation Managers offers the general aviation community a range of insurance products through independent insurance agents and brokers. Phoenix Aviation Managers is a wholly-owned subsidiary of Old Republic International Corp. Insurance contracts underwritten by Phoenix Aviation Managers are issued by Old Republic Insurance company.
Find out more at www.pamav.com.