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Summary of Insurance Settlements
Summary of Insurance Settlements
From August 2023 onwards, certain lessors entered into a series of insurance settlements (the ‘Russian Insurance Settlements’ or ‘RIS’s) in respect of certain of the leased aircraft.
AerCap entered into six RISs between August and December 2023 with certain of the lessees and a Russian insurance company. In total AerCap received US$1,302,455,756.57 under these RISs.
On 28 November 2023, DAE entered into a RIS with Aeroflot and their Russian OP insurer in respect of the DAE Aircraft leased to Aeroflot. The total sum received by DAE was US$118,567,967.39.
- Heading
- Introduction 7
- The Issues 52 Contingent or Possessed Cover? 53
- Loss, Peril and Causation 102
- Chubb’s Russian Insurance Settlement Defences 219 Quantum 220
- Overall Conclusions 230
- The LP Policies and Claims
- The Airlines
- The Leases
- Summary of Key Events
- Summary of Insurance Settlements
- The Issues
- Contingent or Possessed Cover?
- AerCap
- DAE/Falcon
- Merx
- Genesis
- Loss, Peril and Causation
- Legal Issues as to Loss
- Legal Issues as to Peril
- Legal Issues as to Causation
- The Evidence Adduced
- The Salient Facts
- Analysis and Conclusions
- Notices to review and ‘grip of the peril’
- Genesis
- Sanctions
- US Sanctions
- EU Sanctions
- Chubb’s Russian Insurance Settlement Defences
- Quantum
- ‘Recoveries’
- VIM Airlines Thrust Reverser
- DAE/Falcon claim for costs and expenses
- Does the US$ 300 million aggregate limit apply to AerCap’s claim under the War and Allied Perils cover?
- Conclusions