Build the insurance due-diligence file
Describe the transaction and legal entities. Gather full policies, endorsements, schedules, claims records and relevant contracts. Certificates and loss summaries alone cannot answer every question about the target’s insurance.
Separate earlier and future events
Identify known incidents, open claims and services performed before closing. Ask how each policy’s trigger and reporting conditions apply. A single timing rule should not be assumed for all policies, and a later-discovered incident may need review of earlier cover.
Review the planned operation
Map aircraft, crews, uses, sites and contracts after the transaction. Ask whether the buyer’s program can accept them and on what terms. The target’s insurance should not be assumed to transfer with the business.
Coordinate the closing plan
Give written insurance instructions and identify responsibilities at each transaction stage. Review cancellation, continuity and outstanding conditions with the relevant advisers. Transaction insurance and aviation insurance address different questions.
Bring unresolved items to BWI
Provide the transaction description, documents and proposed dates. Have legal advisers assess the acquisition obligations and ask BWI about the actual insurance terms. Confirm the accepted arrangement before relying on the closing plan.
A practical review example
For example, the buyer may take ownership at closing while aircraft and staff move to a new operating structure later. Show both stages, their dates and the legal entities involved. Ask which policies apply at each point and which changes remain outstanding. A single closing-day certificate may not answer all continuity questions.
Keep the comparison record
- Record the parties and interests being reviewed.
- Keep the same values and activities in each proposal.
- List exclusions, conditions and unresolved requests.
- Retain the final confirmation and policy documents.
Contact BWI for an aviation insurance review using your current documents and proposed operation.
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