Aviation Hull and Liability Takaful

Summery

No one will ever know when mankind first tried to fly, but it is clear that man envied the gift given by nature to the animal kingdom, that is, the ability to fly. Very large sums are invested in modern aircraft and their operation. The modern airliners cost large sums. Hence, if compensation for death or injury has to assessed, this may run to a much larger sums. Even a small private aircraft may be the cause of a mid-air collision with similar financial consequences. The failure of a component manufactured by a small company may result in the loss of a fully loaded airliner. Because such catastrophic loss may arise it is normal for aviation risks to be excluded from many kinds of general takaful PMD.