A runway overrun protection system (ROPS) option will be available from next year, tackling what as become the primary air transportation safety issue. ROPS is an avionics solution that compares aircraft energy state and landing performance against the runway end throughout the short final approach to the aircraft’s eventual stop. It issues warnings to pilots on final approach, if the runway length from the projected touchdown spot is too short, aiding them in making the decision to go around.
Financing, Insurance and Taxes » Aviation Insurance
Issues regarding aviation insurance.
Airbus Corporate Jets is exhibiting at MEBA 2012 (Chalet A9) having sold more than 170 aircraft since it was set up in the 1990s. Sixty of them have been in the wide-body category, mostly serving with government and VVIP operators.
Aviation insurer Chartis has added crisis response coverage to aviation policies for corporate customers, including airports and charter management companies. The new product provides customers access to immediate funds for crisis management costs resulting from a catastrophic event. With the coverage, policyholders can receive up to $250,000 of additional policy limits for costs associated with hiring a crisis management firm to help manage reputation risk, as well as for other crisis-related expenses, such as temporary living, travel, counseling, medical and funeral costs.
Aerospace insurance provider Global Aerospace has been selected as the aviation insurance claims manager and advisor for the FAA. Under the agreement, Global Aerospace will provide insurance expertise, assist in claims settlements and advise the FAA on commercial aviation insurance matters with respect to war-risk coverage provided by the agency under authorization from Congress.
More than 100 business aircraft, with a nominal overall value of more than $1 billion, are currently covered under the FinServe European Business Aviation Placement (F-EBAP) “privileged” insurance program sold by independent broker FinServe Aviation Insurance (Stand 383), which is celebrating its 25th anniversary.
Embraer announced today at the Singapore Airshow that China’s Minsheng Financial Leasing placed a firm order for three Lineage 1000 bizliners, with deliveries slated to start sometime this year. In July, the two parties forged a memorandum of understanding in which Minsheng intended to purchase Embraer executive jets, ranging from the entry-level Phenoms to the Lineage 1000 bizliner. In October, Minsheng finalized a firm order for 13 super-midsize Legacy 650s.
The Middle East Business Aviation Association (MEBAA) launched an aviation insurance group discount program for members on Tuesday at the Dubai Air Show.
Swiss Re Corporate Solutions has set up a New York City-based underwriting team to develop its general aviation portfolio in the U.S. The company has also expanded its presence in Canada and its relationship with Seattle-based London Aviation Underwriters.
The Aeronautical Repair Station’s efforts to create a risk-retention group to provide commercial liability insurance for its members is closer to fruition. In late June, the Aviation Alliance Insurance Risk Retention Group (AAIRRG), established by ARSA and Polaris Enterprise Group, received its certificate of authority (insurance license) from the state of Montana.