For more on this part of the insurance industry:
1. visit our aircraft insurance page for a look at all products in this sector
2. or focus in on the air crew insurance products available on IB Markets!
Air crew insurance protects pilots and cabin crew from financial losses caused by accidents or injuries during their duties. It includes coverage for:
Policies often feature tailored options like loss of licence or personal accident coverage.
In Australia, air crew insurance is essential due to high aviation risks, supported by a rich aviation history and mandatory safety-focused insurance requirements.
More air crew members are choosing personal accident insurance to cover injuries on and off duty. The aviation industry is increasingly recognising the importance of mental health support for aircrew. Along these trends come risks as well, such as:
liability risks from accidents: highlight the need for robust air crew insurance coverage to manage financial exposure, as seen in the Jeju Air crash incident
challenges in emergency rescue missions: create demand for specialised coverage to address operational hazards for aircrew
impact of refund regulations: increased responsibilities for aircrew during delays or cancellations may require updated insurance options
Loss of licence coverage is vital for pilots, with technology like online quotes simplifying access to personalised air crew insurance solutions.
Pilots need several types of insurance to safeguard against risks, including:
public liability insurance: covers claims for property damage or injuries caused during operations
hull insurance: protects against aircraft repair or replacement costs
loss of licence insurance: supports income if medical issues end a pilot’s career
personal accident insurance: covers injuries and medical costs from aviation activities
These policies help pilots manage financial threats and stay protected.
Air accident insurance covers death, injuries, or dismemberment from aviation accidents. It provides economic compensation to pilots or their families after such incidents.
On average, annual premiums can range from $1,500 to $10,000 per aircraft. The specific cost of insuring a private pilot in Australia varies based on several factors, including:
aircraft type and value: smaller planes may have lower premiums, while larger or more complex aircraft can increase costs
pilot experience: more experienced pilots often receive lower premiums due to reduced perceived dangers
intended use: private, recreational flying typically incurs lower premiums compared to commercial operations
To get an accurate quote, it is advisable to consult with an air crew insurance specialist who can assess individual circumstances and give customised coverage options.
Air crew members have access to various types of insurance coverage tailored to their unique professional risks. Key options include:
income protection insurance: combines income protection and traditional loss of licence insurance for comprehensive pilot protection
loss of licence insurance: provides financial protection if a pilot or air traffic controller loses their licence due to medical or other reasons
student pilot fees insurance: safeguards trainees against incurring debt if unable to complete their professional training course due to accident or illness
personal accident insurance: offers lump sum benefits in the event of accidental death or disablement, with coverage available 24 hours a day or only while flying
These coverage options are critical for mitigating financial risks associated with the aviation profession. Speaking with an air crew insurance expert can help modify policies to individual needs.
Yes, airlines can be held liable for injuries sustained by passengers during a flight. In Australia, the Civil Aviation (Carriers' Liability) Act 1959 governs this liability, holding carriers responsible for passenger injuries or deaths occurring on board or during embarking and disembarking.
Air crew insurance offers important financial support through specialised coverage options. Here are some real-life examples:
loss of licence insurance: provided financial aid to an Australian pilot who lost their medical certification due to a heart condition, helping with living expenses and career planning
personal accident insurance: covered medical expenses and recovery support for aircrew injured during turbulence on a Sydney-bound flight
Air crew insurance minimises financial stress, allowing aircrew to recover and focus on their wellbeing.
