Aviation insurance

June 2, 2008 - 7:17am

Despite the economic uncertainty in the U.S. and abroad, the mood was decidedly upbeat at the Aviation Insurance Association (AIA) convention April 26 to 29 at
the Gaylord Opryland resort in Nashville. In fact, due in part to the downturn in financial circles, aviation insurance–a truly worldwide industry–has been experiencing a mini-boom that is benefiting the insured, large and small.

May 15, 2008 - 6:02am

With regard to liability insurance, answers to the question of “How much is enough?” have always been something of a mystery. But for shareholders in a fractional program, the answers are compounded by the concept of shared ownership.

May 6, 2008 - 5:02am

Aviation insurance rates can be affected by the vagaries of the stock and investment markets, insurance claims unrelated to the aviation industry and historic peaks and valleys in policy pricing. And further cost pressures are added because the number of aviation insurers continues to decrease.

May 5, 2008 - 11:28am

Following last September 11, aircraft owners and operators began bracing for massive hikes in insurance coverage and changes in the limits of that coverage. Now, a year later, their fears are being realized. But while rates have risen, sometimes triple those before September 11, the increases are not without some justification. The question is, just how much is justified?

April 23, 2008 - 6:25am

“In the next 60 to 90 days, you’re going to see security in the United States like you’ve never seen before,” said retired U.S. Navy admiral Isaac Richardson in late June. “A portion of the nation’s reappraisal took a very hard look at general aviation…and the threat posed by general aviation aircraft as weapons.”

January 11, 2008 - 5:50am

Barely into the new year, aircraft owners and operators are opening letters from their insurance companies offering additional coverage for acts of terrorism.

October 8, 2007 - 11:03am

Corporate aviation operators at all levels received good and bad news from insurance representatives at the 26th annual Aviation Insurance Association conference held in Kansas City, Mo., on April 29 and 30.

October 4, 2007 - 6:27am

The following is typical wording found in most aviation aircraft insurance policies addressing exposures covered under war risks. While wording may differ from one insurer to another, all carry similar overall content and intent. It is always advisable to have a qualified aviation attorney examine the policy to determine whether the coverage meets the requirements of your aircraft.

October 4, 2007 - 6:23am

Apparently most business aircraft operators had the wherewithal and the good sense to clear out of the way in the face of the Southeastern hurricane hat trick in August

October 2, 2007 - 10:57am

Before September 11, insurance occupied no more than an afterthought in the minds of most in the aviation industry. For years, premiums had remained relatively stable, even reasonable, and standards of coverage conformed to the level of threat, perceived as minimal. In the years ahead, the aviation industry will look back at those as “the good old days.”

 
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