Financing, Insurance and Taxes » Aviation Insurance

Issues regarding aviation insurance.

October 24, 2013 - 10:10pm

Bill Snead, president of Wichita-based AOPA Insurance (Booth No. C10424)–a wholly-owned subsidiary of the Aircraft Owners and Pilots Association–put it most succinctly when he presented the company’s new options to members at NBAA 2013. “FBOs are our primary targets with our new commercial insurance offering. Beyond that, we are ready to insure corporate flight departments to a very high limit of liability,” he told AIN. “We know we can offer competitive rates, and that’s exciting.”

October 23, 2013 - 1:45pm

NationAir (Booth No. N5311) announced at NBAA 13 that it has created an aviation product liability division, to be lead by 15-year insurance veteran Jamie Benthusen. The company, founded in 1978, has pioneered specialized insurance programs, with clients in 30 countries worldwide.

“Our products liability division is part of our commitment to provide the full spectrum of risk management for our aftermarket aviation suppliers. It is a natural progression to extend our services through the supply chain,” said Jeffrey Bauer, president of NationAir.

October 23, 2013 - 1:45pm

NationAir (Booth No. N5311) announced at NBAA 13 that it has created an aviation product liability division, to be lead by 15-year insurance veteran Jamie Benthusen. The company, founded in 1978, has pioneered specialized insurance programs, with clients in 30 countries worldwide.

“Our products liability division is part of our commitment to provide the full spectrum of risk management for our aftermarket aviation suppliers. It is a natural progression to extend our services through the supply chain,” said Jeffrey Bauer, president of NationAir.

October 22, 2013 - 3:45am

Unlike real estate lenders, most aircraft lenders don’t require title insurance, so airplane buyers rarely even know about it, let alone purchase it. That can be a big mistake.

October 17, 2013 - 2:45pm

Aviation insurance underwriter USAIG is adding up to 15 percent in new discounts for business aircraft operators that incorporate certain safety programs. Through Performance Vector Plus, USAIG customers can earn “good experience returns” when they meet any of three safety standards during a policy year while also avoiding loss claims. Each standard met earns a 5-percent return, for a potential total return of 15 percent.

October 10, 2013 - 3:05pm

Aerospace insurer Global Aerospace is partnering with Calspan to bring upset recovery training to Global’s SM4 Safety program. Under the deal, the companies have designed a program to provide a comprehensive upset recovery training course to qualified Global Aerospace customers. According to Global Aerospace, “loss of control in flight is indisputably one of the leading causes of aircraft crashes and crash-related fatalities.

July 30, 2013 - 4:25pm

Milestone Aviation Group, the helicopter leasing firm headed by NetJets founder Richard Santulli, closed a new $300 million credit facility yesterday. The company will use these proceeds to acquire and lease helicopters–including Sikorsky S-92s, Eurocopter EC225s and AgustaWestland AW189s and AW139s–valued at $400 million to affiliates of Bristow Group. The credit facility is the largest ever for a helicopter lessor, the company said.

July 22, 2013 - 1:10pm

Airlines may still be struggling with rising costs associated with factors such as fuel and taxes, but they are winners when it comes to insurance premiums. New data released by insurance broker Willis shows that premiums have continued to fall this year. “The balance of power in airline insurance purchasing remains firmly in favor of the buyers,” concludes the London-based group in the second-quarter edition of its Airline Insight report released on July 15.

June 1, 2013 - 3:00am
Soft market proves boon for buyers (Illustration: John T. Lewis)

There has hardly been a better time to be a buyer of business aircraft insurance, according to aviation insurance brokers, underwriters and industry consultants that AIN canvassed for this article. All signs definitely point to a buyer’s market, with some customers almost able to name their own price. While rates are already low, they could descend even further over the next 12 months if the industry stays on its current course.

March 4, 2013 - 7:25pm

Phoenix Heliparts, with 1st Source Bank and Southwest Aviation Insurance Group, plans to offer financing and insurance options on its future MD 500 helicopter sales. Phoenix Heliparts (Booth No. C1527) aims for its Mesa, Ariz. headquarters to become the one-stop shop for MD 500 purchases by “providing a total service experience and simplifying the process of restoring and upgrading MD 500s.”

Phoenix Heliparts president Tina Cannon said the goal is “to reduce the challenges that buyers face when undergoing a custom helicopter restoration.”

 
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