EXHIBIT 10.13.1 - Aviation Insurance - JLT (2009) (Redacted)
LETTERHEAD: JLT
BINDER
This will serve to confirm that XL Specialty Insurance Company per XL Aerospace is binding their 100% quota share, Policy Number UA00004495AV09A, of the following coverage at the terms, conditions, limitations, exclusions, rates and premiums set forth below:
TYPE: AVIATION HULL DEDUCTIBLE INSURANCE.
INSURED: Baltia Air Lines, Inc.
ADDRESS: 63-25 Saunders Street, Suite 71, Rego Park, NY 11374
PERIOD: December 17, 2009 to December 17, 2010 on both dates at 12:01 A.M. local standard time at the address of the Named Insured.
INTEREST: Whereas the Insured has in force Hull All Risk Policy covering aircraft owned and/or operated by
the Insured and such Policy includes the provision for Deductibles excluding all forms of Total Loss.
SUM INSURED: Now this Policy will indemnify the Insured as follows:
To pay: USD 900,000 each and every loss
Excess of : USD 100,000 each and every loss
Subject to one deductible any one occurrence
Subject to an overall policy aggregate of USD 900,000
SITUATION: Worldwide
CONDITIONS:
Noise and Pollution and Other Perils Exclusion Clause AVN 46B in respect of Liabilities only (but not applicable to passengers, crew, baggage, cargo or mail and paragraph I (b) not applicable to pollution or contamination of a product or products sold or supplied by the Insured) and/or as per lead policy
Nuclear Risks Exclusion Clause: AVN 38B and/or as per lead policy
Additional Insureds, Loss Payables, Breach of Warranty, Waiver of Subrogation, Hold Harmless Agreements, Contractual Agreements, Cross Liability clauses as expiring and as may hereinafter be required and/or as per lead policy
JLT Aerospace (North America) Inc. is authorized to issue Certificates of Insurance on behalf of
Underwriters. Special Provision; incorporated into the policy as if endorsed thereon.
War, Hi-jacking and Other Perils Exclusion Clause (Aviation) AVN48B and/or as per lead policy
60 days notice of cancellation or non-renewal (10 days notice for non-payment of premium)
"Disappearance" to mean missing and not reported for five (5) days after the commencement of a
flight
Contract (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72
Date Recognition Exclusion Clause AVN 2000A with Date Recognition Limited Coverage Clauses
AVN 2001A and AVN 2002A and/or as per lead policy
Asbestos Exclusion Clause 2488 AGM00003
All other Terms, Conditions, Limitations, Exclusions and Cancellation Clauses where applicable to follow Hull All Risks Policy
PREMIUM: [CONFIDENTIAL PORTION OMITTED AND FILED SEPARATELY WITH THE
COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT]
SCHEDULE OF AIRCRAFT:
AIRCRAFT TYPE Boeing 747-200
SERIAL NO 21035
REG NO. N705 BL
PROJECTED ADDITION DATE 17-Dec-2009
PROJECTED DELETION DATE 17-Dec-2010
DAYS ON RISK 365
PRORATA FACTOR 1
DUTY OF DISCLOSURE
To the best of your knowledge, you have provided complete and accurate information which would influence the judgment of an underwriter in determining whether or not to underwrite the risk and, if so, upon what terms and at what premium. If all such information has not been disclosed, insurers may have a right to void the policy which will lead to claims not being paid. If you believe that you have not complied with this duty please contact us immediately.
The duty of disclosure and the consequences of its breach may very to a limited degree from the foregoing dependant upon applicable law.
/signed/
Signed: JLT Aerospace (North America) Inc. Date: December 23, 2009
/signed/
Signed: Baltia Air Lines, Inc. Date: 1-4-10
LETTERHEAD: JLT
This will serve to confirm that the following insurers, each for their own part and not one for the other, are binding their respective quota shares of the following coverage at the terms, conditions, limitations, exclusions, rates and deposit premiums set forth below and as following the Allianz Global Risks US Insurance Company Hull and Liability Policy No. AlAL000433009BM.
TYPE: AVIATION HULL, SPARES AI ID LIABILITY INSURANCE.
INSURED: Baltia Air Lines, Inc.
ADDRESS: 63-25 Saunders Street, Suite 71, Rego Park, NY 11374
PERIOD: December 17, 2009 to August 31, 2010 on both dates at 12:01 A.M. local standard time at the address of the Named Insured.
INTEREST:
Hull: To cover Aircraft as per Schedule against All Risks of Physical Loss or Damage and/or as per lead policy.
Spares: To cover Engines, Aircraft Components, Spare Parts and Flight Spares Kits whilst on board aircraft or whilst temporarily removed and not replaced in addition, being the property of the Insured or property of others whilst in the c are, custody or control of the Insured and/or as per lead policy.
Liability: To pay all sums which the Insured shall become legally obligated to pay in respect of Third Party (Bodily Injury and Property Damage), Passenger Legal Liability, Baggage, Medical, Funeral and Repatriation Expenses, Person il Injury and Ground Liability including Premises, Products (including Completed Operatioll >), Contractual, Hangarkeepers Liability, all as may arise from the Insured's Air Transport Busines::, and/or as per lead policy.
SUM INSURED:
Hull: Agreed Values as per Schedule but subject to a Maximum Agreed Value USD 5,000,000 any one aircraft and/or as per lead policy.
Spares: USD 1,000,000 any one location 'any one transit/any one occurrence
Liabilities: Combined Single Limit Bodily Injury, Personal Injury, Property Damage, Passenger Legal Liability USD 250,000,000 any one aircr: 1 ft/offense/occurrence and in the aggregate with respect to Products/ Completed Operations; Personal Injury limited to USD 25,000,000 each offense and in the aggregate (except with respect to passenge r s wherein the full policy limit applies).
DEDUCTIBLES:
Hull: USD 1,000,000 each and every loss (not applicable to total/arranged/constructive loss to apply as per lead policy)
Liabilities: Baggage USD 3,000 any one loss or tariff)
Hangarkeepers (Ground) USD 2,500 any one loss ) to apply as per lead policy
In the event of a claim involving the application of more than one deductible the highest applicable deductible shall be applied as an aggregate deductible for all losses arising out of that claim.
USES: Aircraft to be covered for ground risks (including engine running) plus ferry flights to Malaysia & return and/or as required.
LETTERHEAD: JLT
PILOTS: As approved by the Named Insured
SITUATION: Worldwide
CONDITIONS:
Noise and Pollution and Other perils Exclusion Clause AVN 46B in respect of Liabilities only (but not applicable to passengers, crew, baggage, cargo or mail and paragraph 1(b) not applicable to pollution or contamination of a product or products sold or supplied by the Insured) and/or as per lead policy
Nuclear Risks Exclusion Clause AVN 38B and/or as per lead policy
Additional Insureds, Loss Payables, Breach of Warranty, Waiver of Subrogation, Hold Harmless Agreements, Contractual Agreements, Cross Liability clauses as expiring and as may hereinafter be required and/or as per lead policy
JLT Aerospace (North America ) Inc. is authorized to issue Certificates of Insurance on behalf of
Underwriters. Special Provisions incorporated into the policy as if endorsed thereon.
War, Hi-jacking and Other Peril: Exclusion Clause (Aviation) AVN48B and/or as per lead policy
60 days notice of cancellation or non-renewal (10 days notice for non-payment of premium)
"Disappearance" to mean missing and not reported for five (5) days after the commencement of a
flight
Agree to include dismantling costs under Hull Coverage
Agree to include medical payments, funeral and transportation expenses
Medical Expenses incurred by the Insured in respect of passengers and crew arising out of an occurrence irrespective of Legal Liability hereon, as per lead policy
Claims are to be handled in accordance with North American Claims Handling Agreement (NACHA) as issued by Slip Leader with Slip Leader only authorized to sign NACHA on behalf of all Insurers.
Contract (Rights of Third Parties) Act 1999 Exclusion Clause AVN 72
Date Recognition Exclusion Clause AVN 2000A with Date Recognition Limited Coverage Clauses
AVN 2001A and AVN 2002A and/or as per lead policy
Asbestos Exclusion Clause 2488 AGM00003
Personal Injury Extension AVN60A
All terms, warranties, valuations, period, clauses, conditions, amendments as per lead policy
PREMIUM:
[CONFIDENTIAL PORTION OMITTED AND FILED SEPARATELY WITH THE
COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT]
LETTERHEAD: JLT
SCHEDULE
OF AIRCRAFT:
AIRCRAFT TYPE Boeing 747-200
SERIAL NO 21035
REG NO. N705 BL
PROJECTED ADDITION DATE 17-Dec-2009
PROJECTED DELETION DATE 31-Aug-2010
DAYS ON RISK 257
PRORATA FACTOR 0.704
INFORMATION:
Aircraft to be ferried to Malaysia , where M.A.S. will perform additional work.
Any passenger exposure to be agreed prior to flight.
Contemplates 2 flights. Further to be agreed prior.
DUTY OF DISCLOSURE
To the best of your knowledge, you have provided complete and accurate information which would influence the judgment of an underwriter in determining whether or not to underwrite the risk and, if so, upon what terms and at what premium. If all such information has not been disclosed, insurers may have a right to void the policy which will lead to claims not being paid. If you believe that you have not complied with this duty please contact us immediately.
The duty of disclosure and the consequences of its breach may vary to a limited degree from the foregoing dependant upon applicable law.
/signed/
Signed: JLT Aerospace (North America) Inc. Date: December 23, 2009
/signed/
Signed: Baltia Air Lines, Inc. Date: 1-4-10
SECURITY SHEET
POLICY TERM: December 17, 2009 to August 31, 2010, on both dates 1t 12:01 A.M. Local Standard Time at the address of the Named Insured.
| INSURER | POLICY NUMBER | QUOTA SHARE |
Allianz Global Risks US Insurance Company
Per Allianz Aviation Managers, LLC
317 Madison Avenue, Suite 1110
New York, NY 10017 | A1AL000433009BM | 13.00% |
XL Specialty Insurance Company
Per XL Aerospace
One World Financial Center
200 Liberty Street, 21st floor
New York, NY 10281 | UA000004496AV09A | 12.25% |
Catlin Syndicate 2003 at Lloyd's
Catlin France S.A.S.
37, rue de Caumartin
75009 Paris | HA 3000236271 L2/HA7000236273 H2 | 10.00% |
National Fire & Marine Insurance Company
Ironshore Specialty Insurance Company
Per Starr Aviation Agency, Inc.
3353 Peachtree Road, NE, Suite 1000
Atlanta, GA 30326 | 92CVS101824
IHM100025-01 | 5.00%
5.00% |
StarNet Insurance Company
Per Berkley Aviation, LLC
3780 State Street, Suite C Santa Barbara, CA 93105 | BA09Al711S | 10.00% |
National Union Fire Insurance Company ofPittsburgh, PAPer Chartis Aerospace
I 00 Colony Square, 1175 Peachtree Street N.E.
Atlanta, GA 30361 | HL1859938-02 | 12.50% |
Underwriters at Lloyds of London,
British Insurance Companies and Others
Per JLT Risk Solutions Limited
One America Square
London EC3N 2PH | J50902909 | 17.50% |
AXA Corporate Solutions Assurance
Per AXA Corporate Solutions
4, rue Jules Lefebvre
57426 Paris Cedex 09 | 117196 | 5.00% |
Arch Insurance Company
Per International Aerospace Insurance Services, Inc.
1005 Mark Avenue
Carpinteria, CA 93013 | IMAA7108201 | 9.75% |
| TOTAL | | 100.00% |
SEVERAL LIABILITY NOTICE
The subscribing insurers' obligations under contracts of insurance to w:r. ich they subscribe are several and not joint and are limited solely to the extent of their individual subscriptions. The subscribing insurers are not responsible for the subscription of any co-subscribing insurer who for any reason does not satisfy all or part of its obligations.
LSW 1001 (Insurance)
