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What is the difference between the Silver Wings Plan and the Gold Wings Plan? Both plans provide coverage with respect to aircraft registered with Transport Canada as a Canadian registered aircraft and the aircraft is used for private business and pleasure only. The difference between the Silver Wings and Gold Wings Plans under the Canadian Owners and Pilots Asscation (COPA) Program is: SILVER WINGS PLAN: Each policy issued under the Silver Wings Plan has an expiry date of January 1, of the following year regardless of the date coverage is effected during the current year. The Silver Wings Plan is designed as a policy which follows the pilot. It provides legal liability bodily injury (including passengers, if required) and property damage coverage to third parties arising out of any aircraft registered with Transport Canada as a Canadian registered aircraft which you own, lease, rent, or borrow (exceptions are: balloons, hangliders, airships, paragliders, hovercraft, unmanned air vehicles, very light jets (VLJs), commercially registered aircraft unless the aircraft used is rented or borrowed for private business and pleasure purposes only). In addition, if you own an aircraft you may purchase Hull “All Risks” Ground Not-In-Motion coverage (whenever the aircraft is not moving under its own power or by momentum generated by its power) for loss or damage to your aircraft. Please refer to the COPA Aviation Insurance Checklist in the “Wings Edition” brochure or online at COPA for a listing of eligible aircraft types. GOLD WINGS PLAN:
Each policy is issued for an annual term. If you purchased a policy with an effective date of June 1 of the current year, it will have an expiration date of June 1 of the following year. The Gold Wings Plan is designed specifically for aircraft owners. It provides legal liability bodily injury (including passengers, if required) and property damage coverage to third parties arising out of any aircraft registered with Transport Canada as a Canadian registered aircraft which you own. In addition, it includes Hull “All Risks” “Ground and Flight” coverage (whenever the aircraft is moving under its own power or by momentum generated by its power) for loss or damage to your aircraft. Back
Where can I find a specimen copy of the basic Silver Wings and Gold Wings Policy wordings? You can obtain a specimen copy of both the basic Silver Wings and Gold Wings policy wordings by: A. Going to COPA’s Web site at www.copanational.org and looking under the “Membership Benefits” section. B. Calling us at 1 800 361 1625 or locally at 514 285 5840. If you are unable to contact a Marsh Client Service Representative, leave us a message as to whether you need a Silver Wings or Gold Wings specimen policy wording as well as your name, address, telephone number, facsimile number, and e-mail address. A Marsh Client Service Representative will call you back. C. Sending a fax to us at 1 800 320 8892 or locally at 514 285 8299 D. E-mailing Marsh Canada Limited at: COPA Support E. Mailing your request to us at: Marsh Canada Limited
COPA Group Aviation Insurance Program
1981 McGill College Avenue, Suite 820
Montreal, QC H3A 3T4 Back
What coverage/limits of liability insurance are mandatory by Transport Canada? Transport Canada requires that you carry legal liability coverage for bodily injury (excluding passengers) and property damage subject to the following minimum liability limits: | Maximum Permissible Take-Off Weight | Minimum Liability Limits | | Less than 1,043 kg (2,300 lbs) | $100,000 | Greater than 1,043 kg (2,300 lbs) but not more
than 2,268 kg (5,000 lbs) | $500,000 | Greater than 2,268 kg (5,000 lbs) but not
more than 5,670 kg (12,500 lbs) | $1,000,000 |
In addition, Transport Canada requires that aircraft with a maximum permissible take-off weight of 2,268 kg (5,000 lbs) or more carry a minimum passenger legal liability limit of $300,000 with respect to each passenger seat.
Back Can I take out coverage for less than a year? With respect to the: A. SILVER WINGS PLAN: The normal policy term is January 1 of the current year to January 1 of the following year. If you wish to effect coverage after January 1 of the current year you may do so. No matter what date you choose to effect your insurance, the policy will expire January 1 of the following year. If, for example, you effect coverage in May of the current year it will expire January 1 of the following year. You cannot purchase coverage for example from May of the current year to October of the current year and just pay for that term; you must pay for the term May of the current year to January 1 of the following year. In the event you want to cancel the policy, premiums are refundable subject to the Cancellation “Short Rate Table” contained in the policy wording. B. GOLD WINGS PLAN: Policies are written for a one-year term regardless of the date you purchase coverage. For example, if you purchase a policy from February 1 of the current year, it will expire February 1 of the following year. In the event you want to cancel the policy, premiums are refundable subject to the Cancellation “Short Rate Table” contained in the policy wording. Back
What are the differences between the liability options offered under the Silver Wings Plan? The legal liability coverage "A", "B", and "C" differ in their application as follows. A. COVERAGE “A” BODILY INJURY (EXCLUDING PASSENGERS) AND PROPERTY LEGAL LIABILITY: This coverage provides a single limit in respect of your liability towards third parties for bodily injury claims (excluding any liability to passengers which you may carry on board your aircraft) and property damage claims. B. COVERAGE “B” PASSENGER LEGAL LIABILITY: This coverage provides a maximum liability limit for each passenger seat in the aircraft. If you select a limit of $500,000 each passenger seat covering five passenger seats then the maximum coverage available to any one passenger is $500,000 with a maximum limit for all five passengers of $2,500,000. For example, if you are found legally liable to pay damages of $1,500,000 for bodily injuries to passengers awarded as follows: Passenger 1 $500,000; Passenger 2 $750,000; and Passenger 3 $250,000, the policy will pay a total of $1,250,000 allocated as follows: to Passenger 1 $500,000; to Passenger 2 $500,000 and to Passenger 3 $250,000. As the policy will only pay up to the maximum per passenger seat of $500,000, you will be uninsured and personally liable, in this example, to Passenger 2 for the excess over $500,000 (i.e. $250,000). C. COVERAGE “C” COMBINED SINGLE LIMIT BODILY INJURY (INCLUDING PASSENGERS) AND PROPERTY DAMAGE LEGAL LIABILITY: This coverage is the most flexible in its application. It provides essentially the same coverage as Coverage “A” Bodily Injury (Excluding Passengers) and Property Damage Legal Liability and Coverage “B” Passenger Legal Liability combined, except there is no restriction in how the maximum limit of liability chosen is allocated between third party bodily injury (excluding passengers), property damage legal liability, and passenger legal liability. For example, if you selected a limit of $2,000,000, including three passenger seats, and are found legally liable to pay for bodily injuries and property damage to someone other than a passenger, of $500,000 and bodily injury damages to three passengers totalling $1,500,000 (Passenger 1 $500,000; Passenger 2 $750,000; and Passenger 3 $250,000) for a total of $2,000,000, the policy will pay the maximum limit of $2,000,000. There is no restriction as to what amount will be paid to any one passenger other than the overall policy limit chosen by you. Back
Can I insure the hull of the aircraft for less than its value? The hull coverage under your policy is provided on an “agreed value” basis (i.e. you and your insurer agree your aircraft is worth a certain amount and your insurer will pay that amount to you less any applicable deductible in the event of a loss). You must, therefore, insure your aircraft for the full replacement cost (i.e. the cost of replacing the aircraft with one which is of the same year of manufacture, make, and model, and time on engine and airframe, etc. or the price you would accept if you decided to sell your aircraft). Underinsuring your aircraft creates problems. If the cost of repairs after an accident, including taxes, approaches the insured value, then your insurer could declare the aircraft a total loss and then sell the salvage. You will be paid the amount specified in your policy less your deductible but this will not be enough to replace the aircraft. For example, assume your aircraft costs $60,000 to replace, is insured to a value of $50,000, costs $40,000 to repair after an accident and has a salvage of $20,000. In this instance, the insurer may pay the insured value as a total loss and take the salvage, for a net cost of $30,000, because it is less than the cost of repair of $40,000. This would leave you $10,000 short of the replacement cost for the aircraft. The amount of hull coverage should always be increased if the aircraft, for example, has been upgraded by adding an expensive avionics package, new paint or interior, or an overhauled engine. Back
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