Product covers a range of legal ownership risks including fraud and forgery.

Dual Asset Underwriting has launched Aircraft Title Insurance to join its legal ownership insurance services.

The provider has partnered with US firm AIC Title Service to launch the policy in the UK and across Europe which will mainly be sold through brokers.

It detailed that the product insures buyers and/or the financiers of aircraft for a wide range of legal ownership risks, including:

fraud and forgery
unknown debts secured against either the aircraft or its engines or propellers
third parties claiming to have a better ownership right
outstanding rates, taxes, charges and other levies, which often affect aircraft.

The provider added that the policy can cover either airplanes or helicopters and/or in each case their engines and rotor blades.

Relationship
Phil Oldcorn, chief underwriting officer of Dual Asset commented: “We are delighted to be able to add insurance of aircraft to our existing range of products for real estate, mortgages, share ownership and probate assets.

“We have forged an excellent relationship with AIC who have thrown their huge weight of experience behind this initiative.”

He continued: “Our expertise in legal ownership insurance, combined with our underwriting skills and excellent broker relations make for an exciting future.

“As with our other asset insurance products, Aircraft Title Insurance will make it much easier and safer for anyone investing in aircraft as a business or for a hobby to make sure everything is safely in place before take-off.”

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