Lesson Notes By Weeks and Term - Senior Secondary 2
Aviation insurance I
Aviation insurance I
Term – 2nd Term
Week: 6
Class: Senior Secondary School 2
Age: 16 years
Duration: 40 minutes of 2 periods each
Date:
Subject: Insurance
Topic:- Aviation insurance I
SPECIFIC OBJECTIVES: At the end of the lesson, pupils should be able to
INSTRUCTIONAL TECHNIQUES: Identification, explanation, questions and answers, demonstration, videos from source
INSTRUCTIONAL MATERIALS: Videos, loud speaker, textbook, pictures
INSTRUCTIONAL PROCEDURES
PERIOD 1-2
|
PRESENTATION |
TEACHER’S ACTIVITY |
STUDENT’S ACTIVITY |
|
STEP 1 INTRODUCTION |
The teacher reviews the previous lesson on marine insurance |
Students pay attention |
|
STEP 2 EXPLANATION |
He defines aviation insurance and discusses the scope
|
Students pay attention and participates |
|
STEP 3 DEMONSTRATION |
He narrates the history of aviation insurance |
Students pay attention and participate |
|
STEP 4 NOTE TAKING |
The teacher writes a summarized note on the board |
The students copy the note in their books |
NOTE
AVIATION INSURANCE
Aviation insurance is an insurance coverage available to cover the operation of aircraft, including drones, and the risks involved in aviation.
Aviation insurance is a type of insurance that provides insurance cover for compensation in respect of a range of risks associated with air transport.
Aviation insurance is a policy that offers property and liability coverage for aircraft. It covers losses resulting from aviation risks that come about due to the maintenance and use of aircraft, property damage, loss of cargo, or injury to people.
NOTE THAT: Most policies are issued on an “all risks basis”, subject to certain restrictions. The buyers of these policies are the commercial airlines, air freight companies, corporate and business aircraft owners, private owners and flying clubs.
SCOPE OF AVIATION INSURANCE
In aviation there are many things and people involved that can or even should be covered by insurance:
(a) The passengers, personnel and cargo on the plane
(b) Facilities, personnel and machines on the ground including hangars, aircraft tugs, flight controllers and many more
(c) In case of an emergency landing or a crash literally anything that a plane could land or crash onto
(d) networks, channels of communication, systems, software and other non-physical devices and eventually the aircraft itself
(e) Aviation insurance covers losses resulting from aviation risks that come about due to the maintenance and use of aircraft, property damage, loss of cargo, or injury to people.
(f) Aviation liability insurance insures the owner of an aircraft against losses caused by having to pay damages for injuries to persons or property inflicted by or in the operation of the aircraft.
THE HISTORICAL DEVELOPMENT OF AVIATION INSURANCE
(i) Aviation Insurance was first introduced in the early years of the 20th century.
(ii) The first-ever aviation insurance policy was written by Lloyd's of London in 1911.
(iii)The company stopped writing aviation policies in 1912 after bad weather at an air meet caused crashes, and ultimately losses, on those first policies.
(iv)The first aviation policies were underwritten by the marine insurance underwriting community.
(v) The first specialist aviation insurers emerged in 1924.
(vi)In 1929, the Warsaw Convention was signed. The convention was an agreement to establish terms, conditions, and limitations of liability for carriage by air; this was the first recognition of the airline industry as we know it today.
(vii) Realising that there should be a specialist industry sector, the International Union of Marine Insurance (IUMI) first set up an aviation committee and later in 1934 created the International Union of Aviation Insurers (IUAI), made up of eight European aviation insurance companies and pools.
(viii) The London insurance market is still the largest single centre for aviation insurance.
(ix)The market is made up of the traditional Lloyd's of London syndicates and numerous other traditional insurance markets. Throughout the rest of the world there are 2 national markets established in various countries, each dependent on the aviation activity within each country. The United States has a large percentage of the world's general aviation fleet and has a large established market.
EVALUATION: 1. Define aviation insurance
CLASSWORK: As in evaluation
CONCLUSION: The teacher commends the students positively