Insurance & Risk Management

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Insurance & Risk Management

The purchase of insurance protection against financial, damage and injury losses resulting from aircraft and/or airport operation accidents is a decision to be made after thorough discussion with insurance consultants and the company's legal department. The aviation department manager and those responsible for handling the company insurance should remain in close communication during preparations and negotiations for any aviation-related insurance contracts. The basic coverage in the aviation insurance market are physical damage to the aircraft (hull insurance), aircraft liability insurance and airport liability (premises) insurance.

News

Aviation Insurance Claims Case Review Among the Educational Offerings at NBAA2012
September 28, 2012
Dozens of informative education sessions will be offered at the upcoming NBAA 65th Annual Meeting & Convention (NBAA2012), set for Oct. 30 to Nov. 1 in Orlando, FL, and for aircraft owners and operators, "Aviation Insurance Claims: Case Review" is one not to miss. This interactive session, which takes place Oct. 30, will feature a panel discussion by experts, who will review recent aviation insurance claims from their own perspectives. From risk management and insurance planning (broker) to implementation of coverage (underwriter) and claims adjustment/defense (claims adjuster/attorney), the panel will analyze a series of cases and the lessons learned. Read more about this session.
Business Aviation Insurance: What You Should Know for 2011
January 14, 2011
For much of the past decade, business aviation operators have enjoyed a buyer's market for aviation insurance. That cycle is ending, and prices are likely to rise. This is the consensus of several experts on the Aviation Insurance Working Group, part of NBAA's Tax Committee, offered explanations for the trend and how NBAA Members can best respond. NBAA's experts have offered a checklist to help Members prepare for rising insurance rates. Learn more.
In Light Of Wall Street Developments, Aviation Insurance Underwriters Provide Information to NBAA
September 24, 2008
The turbulence of Wall Street and the financial markets has raised questions among policy-holders with respect to aviation insurance coverage. While aircraft owners should work closely with their aviation insurance broker on any questions about policies and coverage, the industry as a whole remains sound.

Review the American International Group (AIG) statement (31KB, PDF)

Review the statement from a separate company, the United States Aircraft Insurance Group (USAIG) (77KB, PDF)

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