A METHOD to mitigate aviation risk is to carry insurance, a contract based in state law with another party, for up-front cost. Pilots would like to think aviation risk can be assessed based solely on their operational record, when in reality all of us still pay to cover the sum total of all losses. Here are some common insurance terms: SPLIT-LIMIT (LIABILITY). Limits of coverage split by categories. For example, $1 million of total liability coverage split by limits of $100,000 for bodily injury, and $1 million of property damage. (This is the level required for based aircraft tenants at most mid-size city- or county-owned airports in the United States.) PER PASSENGER LIMIT. That's a split limit on passengers-but not a limit on people not in the aircraft.
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