How is aviation insurance regulated?

Aviation insurance is regulated in California by the California Department of Insurance (CDI). The CDI is responsible for regulating and enforcing aviation insurance laws across the state. Aviation insurance is required in California for any aircraft operation, including private, commercial, and recreational aircraft. The minimum amount of liability coverage required for aircraft operations is $100,000 per person and $300,000 per occurrence. The CDI can also issue additional requirements depending on the type of aircraft and flight activity. The CDI is authorized to ensure that all aviation insurance policies meet the required minimum liability insurance coverage amounts, as well as that all pilots possess the appropriate license and training for the type of aircraft being operated. The CDI can also require additional insurance for certain types of aircraft if necessary. Additionally, the CDI requires insurance companies to notify the CDI of any changes to aircraft insurance policies within 90 days of the change being made. In order to protect consumers, the CDI also regulates the amount of money insurance companies are allowed to charge for aviation insurance. This helps to ensure that high-quality insurance coverage is available at a reasonable cost. Finally, the CDI is responsible for ensuring that insurance companies have the appropriate processes in place to pay out insurance claims in a prompt and equitable manner. If an insurance company fails to meet these standards, the CDI can take legal action.

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