Aviation Insurance Clauses Group (AICG) 

The Aviation Insurance Clauses Group (AICG) was established in June 2005 by the Lloyd's Market Association and the International Underwriting Association of London. The AICG establishes non-binding standard wordings, clauses and variants for use in aviation insurance policies. Users are consulted on proposed clauses and can propose variant clauses themselves. This process has significantly increased transparency for air carriers.
Further details of the AICG, including minutes of the AICG meetings and sets of draft wordings and clauses issued by the Group since its inception, are available from the AICG website.

Wordings and Consultation Drafts

In February 2017 the IUAI reached agreement that the consultation drafts, and wordings circulated by the AICG, can be made available via the Union website.
IUAI Members will be notified when consultation drafts are circulated and when new wordings are released.
 

AICG Consultation Draft 54 (‘CD54’)
Aviation Spares and/or Equipment All Risks Insurance Policy

 
In late 2017, AICG received a request from a market participant to consider drafting an AVN provision addressing Aviation Spares and/or Equipment. In line with the AICG Terms of Reference, the AICG Chair considered that this request was reasonable and a working group was formed to develop this further. 

AICG felt that the best way to approach this was to draft two provisions. The first part of this work was to develop an endorsement that, where appropriate, could be attached to AVN aircraft wordings. This was completed and AVN123 published in February 2018. The second tranche was to develop a standalone Spares wording and a draft is now completed for market consultation. The wording is shown below and will also shortly be added to the AICG website.

Under the AICG Terms of Reference, interested parties have 30 days to provide comments on the draft wording to the Secretary of the AICG. Members who wish to comment or respond to the draft should follow the instructions on the covering letter. Consultation on this Draft closes at close of business on 24 June 2018.  

CD 53 Aviation Premises, Hangarkeepers and Products Liability Insurance Policy 

 
In late 2017, AICG received a request from a market entity to consider drafting an AVN provision addressing Aviation Premises, Hangarkeepers and Products Liability Insurance. As a result of this approach, the AICG established a Working Party, and the resulting Consultation Draft, CG 53, has now been made available for consultation.

Members who wish to comment or respond to the draft should follow the instructions on the covering letter. Consultation on this draft closes on 14 June 2018.

CD 50 Data Exclusion Clause

Following an approach from a market participant in late 2016, the AICG is assessing the treatment of cyber risks, particularly in relation to damage to tangible property and/or bodily injury. This work is ongoing, but on 29 September the AICG issued Consultation Draft 50 (CD 50), a draft clause, issued for market consultation, that deals with data.

A copy of the covering letter, and the consultation draft can be accessed below. The Deadline for comments or submissions on this draft has now passed, submissions were made by the LCSG, and certain members. Any updates will be published here.