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I.
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DEFINITIONS USED IN THIS POLICY
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A.
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Definition 6 is deleted in its entirety and replaced by the following:
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"Commercial purpose" means any use of your insured aircraft for which an insured person receives, or intends to receive, money or other benefits. It does not include:
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a.
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the equal sharing among occupants of the operating costs of a flight;
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b.
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an insured person being reimbursed by their employer for the expense of a flight, provided such employer is not in an aviation business and the flight is incidental to the insured person's employment;
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c.
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you being paid by a pilot named in Item 6A of the Data Page for their personal, non-commercial use of your insured aircraft;
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d.
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the sharing of the expenses of the ownership, maintenance and use of your insured aircraft among policyholders shown in Item 1 of the Data Page;
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e.
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your buying and selling of an insured aircraft.
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B.
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Definition 11 is deleted in its entirety and replaced by the following:
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"Insured aircraft" means:
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a.
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an aircraft shown in Item 4 of the Data Page;
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b.
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an additional or replacement aircraft of which you have acquired full ownership during the Policy Period if we insure all aircraft you own. However, this does not apply to:
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(1)
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a rotorcraft unless a rotorcraft is shown in Item 4 of the Data Page;
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(2)
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a turboprop aircraft unless a turboprop aircraft is shown in Item 4 of the Data Page;
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(3)
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a turbojet aircraft unless a turbojet aircraft is shown in Item 4 of the Data Page.
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Additional or replacement aircraft will no longer be insured aircraft after 5 days from the date you acquire it, or, if sooner, the date you insure it with another insurer.
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C.
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Definition 12 is deleted in its entirety and replaced by the following:
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"Insured person" means:
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a.
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You;
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b.
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The person named below:
<insured person inserted here>
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II.
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Extended Sales Coverage in COVERAGE A-LIABILITY INSURANCE FOR YOUR INSURED AIRCRAFT is deleted in its entirety.
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III.
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INSURANCE FOR YOUR USE OF NON-OWNED AIRCRAFT of your Policy is deleted in its entirety.
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NC-132201
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To read the full policy click here.
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