- Abandonment Terk (Abandonment)
- The act by which the insured surrenders damaged property or a vessel to the insurer and claims a constructive total loss. A legal mechanism primarily in marine insurance; the insurer is free to accept or decline the notice of abandonment.
- Service page →
- Accumulation Kümülasyon
- The total aggregated exposure a reinsurer carries across multiple policies that could be affected by a single event or in a given geographic area or class. Managing accumulation is critical to capital adequacy, particularly for catastrophic perils such as earthquake and windstorm.
- Service page →
- Advance Payment Bond Avans Kefalet Senedi
- A bond that guarantees repayment of a cash advance made to a contractor under a construction or supply contract. If the contractor fails to apply the advance to the contracted works, the obligee can recover the advance through the bond. The bond amount typically reduces progressively as the works are performed.
- Service page →
- Advanced Loss of Profits / Delay in Start-Up (ALOP/DSU) Gecikmeli Başlangıç Kâr Kaybı (ALOP/DSU)
- Insurance covering revenue loss and standing charges arising from project delay caused by physical damage to the works under a CAR/EAR policy. Added as an extension to the CAR/EAR; frequently required under project finance and loan covenants.
- Service page →
- Aggregate Excess of Loss (AgXL) Kümülatif Hasar Fazlası Reasüransı
- Non-proportional cover triggered when the aggregate of multiple losses during a period exceeds the cedant's retention expressed as an amount rather than a ratio. Distinct from stop loss, which uses a loss ratio threshold.
- Service page →
- Aircraft Hull Insurance Uçak Gövde Sigortası
- Insurance covering an aircraft's airframe, engines and components against physical damage from accident, fire and other perils. Available as 'all risks in flight and on the ground' or the more limited 'ground risk only' variant.
- Service page →
- Aviation Insurance Havacılık Sigortası
- Specialist insurance for aircraft operators and owners, typically comprising hull all risks (physical damage to the aircraft), hull war and allied perils, and aviation liability (passenger liability, cargo liability and third-party liability). Aviation risks are underwritten in specialist markets, principally Lloyd's of London and select London and European aviation pools.
- Service page →
- Aviation Third-Party Liability Havacılık Üçüncü Taraf Sorumluluk Sigortası
- Insurance covering an aircraft operator's legal liability for bodily injury or property damage caused to third parties — persons and property not on board the aircraft, including persons on the ground and occupants of other aircraft. Passenger liability is a distinct coverage: passengers are not third parties in aviation law. The regulatory framework comprises two separate instruments: (1) The Montreal Convention (1999): governs passenger liability — death and bodily injury, baggage and cargo loss or damage, and delay — but does not directly mandate third-party liability coverage; (2) EU Regulation 785/2004: prescribes mandatory minimum insurance limits for both passenger liability and third-party liability as separate categories for aircraft operated in the EU. Combined Single Limit (CSL) policies may merge both into one aggregate limit, but the coverages remain conceptually distinct.
- Service page →
Looking for expert advice?
Neolife is an independent, SEDDK-licensed insurance and reinsurance broker in Turkey, acting exclusively in the client's interest.
Free Consultation →