Aviation Legal Liability | Airline Will Not Escape Liability if Act of War Caused Crash

Pray For MH17

Officials say 283 passengers and 15 crew members died when the flight crashed in Ukraine near the Russian border on Thursday. So far, there is no evidence that the aircraft malfunctioned; officials say it was brought down by a Russian-made antiaircraft missile. But according to the Montreal Convention, a 1999 international treaty that governs airline liability and compensation for the victims of air disasters, Malaysia Airlines is liable, regardless of whether it is at fault for the crash. Airlines do not have to pay for damaged cargo if it’s damaged in an act of war. But in the case of death or injury to passengers, the aircraft carrier can be held liable for up to 113,100 Special Drawing Rights, an updating, weighted average of convertible currencies.

How an Act of Aggression Complicates Insurance Questions for Malaysia Airlines

Malaysia Airlines

The key issue is whether the shoot-down of a civilian airliner over an area where there is a conflict but no official declaration of war will trigger aviation insurance policies’ “wartime exclusion” clauses. Such clauses are written into almost every insurance policy of a costly, high-tech airliner such as the 777-200, and they mandate that the insurance companies underwriting the aircraft won’t be liable if an act of war or terrorism destroys the plane.

Warning: Stocks Will Collapse by 50% in 2014

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“We are in a gigantic financial asset bubble,” warns Swiss adviser and fund manager Marc Faber. “It could burst any day.” ….doesn’t hesitate to put the blame squarely on President Obama’s big government policies and the Federal Reserve’s risky low-rate policies, which, he says, “penalize the income earners, the savers who save, your parents — why should your parents be forced to speculate in stocks and in real estate

Know Your Fire Insurance Cover | On Bush and Lalang Fire

Understand you fire insurance policy in aspect where bush fire is being excluded

Bush or Lalang fire. In consideration of an additional premium, the Company hereby agree and declare that notwithstanding anything to the contrary contained in Condition 8(i) of the Policy, the insurance is extended under Item No………… to cover loss or damage caused by bush/lalang fire (provided that during the currency of this Policy every reasonable effort shall be made to keep the Insured’s ground free from lalang and undergrowth). Subject otherwise to the terms and conditions of the policy.