Gallagher and Lloyd's Launch New Insurance Solution for Aviation Spares Against War Risks
Insurance broker Gallagher has launched a new facility to protect aviation spare parts from war-related perils during transit and storage. The solution, backed by Lloyd's syndicates Atrium and Brit, is called the Aviation Spares Transit and War Storage Facility. It addresses a critical gap in standard aviation policies, which often exclude coverage for ground war risks affecting assets on the ground. This product is designed for airlines, MROs, leasing companies, and other aerospace clients. The launch comes in response to increased geopolitical instability, which has highlighted the vulnerability of high-value spares stored globally.
Official Source: https://aircargoweek.com/aviation-solution-launched-to-provide-protection-for-aviation-spares-against-war-perils/