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The purchase of hull deductible insurance protects the policyholder from exposing their balance sheet to repair bills of up to USD1m per incident. Instead, policyholders may be exposed to as little as USD50,000 per incident.
Leasing companies often include a condition in the lease agreement that their client purchases hull deductible insurance. Banks and other financial institutions also frequently stipulate, as a loan prerequisite for the procurement of aircraft, that hull deductible cover should be purchased.
Tokio Marine Kiln’s dedicated deductible underwriter transacts business in Lloyd’s and is a market leader in this class. Our capability is widely recognised and regularly accessed by brokers structuring insurance placements for their clients.
