In order to participate in the 2012 World Championship, competitors are required to provide proof that you have a valid insurance policy for the balloon you are flying during the event.
The insurance must meet the following requirements as a minimum:
- Liability Limits: The policy must be in the amount of at least $1 million USD for third party liability and $100,000 USD per passenger.
- AM Best Rating: insurance companies must carry an AM Best rating of at least A-.
- Balloon: The policy must clearly show the registration number of the balloon you will be flying.
- Pilot: The policy must clearly show the name of the pilot who will be flying the balloon.
- Geographic Area: The policy must clearly state that coverage is provided for operation within the United States.
- Dates of Coverage: The policy must clearly show that the coverage is valid for the entire World Championship, August 17-25, 2012.
- Terrorism Coverage: Any rider added to the pilot’s insurance policy to provide coverage in the US must show that Terrorism Coverage has been offered as part of the policy.** Insured’s, however, are not required to purchase such coverage.
- Language: Please provide proof of insurance in English
Deadline: In order to provide enough time to review the documents, proof of insurance must be received no later than August 1, 2012.
If your insurance company cannot provide insurance to meet these requirements, we recommend you contact the following US insurance representatives who may be able to assist you in purchasing additional insurance. We recommend that arrangements for additional insurance be made at least two months prior to the Championship.
IMC Balloon Agency, www.imcins.com
Schantz Insurance Agency, www.theschantzagency.com
** Please note that under USA law, for a policy to be valid, Terrorism Coverage must be offered to the purchaser. Terrorism coverage does not have to be purchased, in which case the document must show that the coverage was offered and declined.
- Category: Pilot Information
- Last Updated on Tuesday, 13 December 2011 09:44
- Published on Tuesday, 27 September 2011 23:44
- Written by Bob Lane