Path to Construct China's General Aviation Insurance System

The core function of general aviation insurance is to diversify low altitude flight risks and enhance the driving effect of industrial economy, which is conducive to resolving the contradictions and difficulties in the development of China's general aviation industry. The study finds that China's general aviation insurance has limited ability to transfer risks and lacks the function of disaster prevention and loss reduction. Among them, the most obvious problems are the ineffectiveness and ambiguous pertinence of the insurance of general aviation aircraft operator (owner), low pilot insurance and absence of aviation sports insurance. Because of lack of relevant laws and regulations, insufficient support from insurance industry and backward underwriting technology, the development of general aviation insurance is hindered and it is difficult for general aviation insurance to play a role in alleviating the plight of industrial development. Based on this, this paper puts forward a feasible path to get out of the dilemma, and to prepare for and optimize China's general aviation insurance system. It is advised to formulate the General Aviation Insurance Regulations and corresponding General Aviation Insurance Operation Guide to improve China's general aviation insurance legal system. It is also important to establish in stages a general aviation insurance system with traditional commercial insurance as the main body, aviation sports insurance as the focus and self-insurance companies as the supplement. In addition, it is necessary to actively prepare for the establishment of a general aviation safety service system to deal with the situation of lack of the function of disaster prevention and loss reduction of general aviation insurance.