Statutory Body(s) @ Civil Aviation
Globally each country having civil aviation activities have their own regulatory body(s) like DGCA (India), FAA(United States), CAA(Great Britain) etc. to legally control their Aviation activities and help maintain the highest standard of safety operations.
Statutory Body(s) @ Aviation Insurance
Globally each country having Insurance activities have their own regulatory body(s) like IRDA (India), NAIC, FSA to legally control their Insurance activities and help maintain the highest standard of operations.
Underwriting @ Aviation Insurance
Underwriting in insurance refers to principles & practices followed by an Insurance Company to fix the insurance premium , decide whether to accept the risk of the prospective insured or not, the amount of risk that can be accepted, whether to bear the entire risk on it’s own or share the risk with the reinsurance company. In order to get the best coverage at least premium, the prospective insured must ensure to provide the maximum information in the Proposal Form.