The FAIR Aviation Pool was created further to the 9th General Assembly of the FAIR that was held in Beijing, China from November 10th to 20th 1985. The first Executive Committee meeting was in Casablanca on June 28th and 29th in 1988. It has one of the most important capacities in the Afro-Asian region with 127 Cessions splitted in Hull and Liabilities shares for 2016 UY.
The General Assembly also unanimously entrusted the management of the Pool to Société Centrale de Réassurance (SCR).
- Write aviation risks ceded from the FAIR members and other Afro-Asian markets.
- Write a balanced portfolio of selected airlines in ASIA and Africa.
- Increase the aviation retention capacity of Afro-Asian markets.
Lines of Business and Capacity in terms of Lines:
- Aircraft hull and/or other business allocated to the hull section.
- Aircraft liabilities such as Third Party Legal Liability, Passenger Legal.
- Liability, Baggage Liability, Freight Cargo and Mail, Legal Liability, Airport.
- Owners and Operators Legal Liability, Products Legal Liability.
- Passengers Personal Accidents, aircrews, air operators, etc.
- Loss of use, consequential Loss Insurance in respect of partial Loss.
- Loss of license Insurance for pilots, flying engineers.
- Cargo and/or Baggage Insurance.
- War, Hi-jacking etc.