| Commentary

49 Insurance

| Commentary

49 Insurance1

If an operator applies for an air transport or operating licence, it is required to produce evidence satisfactory to the Civil Aviation Authority that it possesses adequate insurance cover to meet its potential liabilities and, in particular, liability in case of accidents involving passengers, baggage, cargo, mail and third parties2, which is a requirement applicable to all aircraft operated within the European Union by Council Regulation (EC) 785/2004.

In view of the large sums of money involved, the insurance cover for an aircraft is of paramount importance to a financier and a financier should

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