Washington, DC, January 3, 2012 – NBAA Member Companies participating in the Association’s popular Workers’ Compensation Insurance Program will receive yet another 20-percent dividend in 2012, due to the outstanding loss ratio of the group, the Association reported today. Participants in the program have received nearly $1 million dollars in dividends to date.
“A cash dividend like this is quite rare in our industry,” said NBAA President and CEO Ed Bolen, “and we are extremely pleased to have 20-percent of Workers’ Compensation Program premiums returned to Member Companies for two years in a row.”
The NBAA Workers’ Compensation Insurance Program was launched in May 2009 to help NBAA Member Companies gain access to high-quality coverage at reduced rates. The Program is independently underwritten by Phoenix Aviation Managers and its affiliate Old Republic Insurance Company, and administered by NationAir Aviation Insurance.
Participants in the program have seen significant savings, and the revenue earned by NBAA continues to help the Association support its mission.
All NBAA Members who operate aircraft are eligible for this Member benefit, regardless of size or Member category. This includes all flight departments, from one- or two-person operations to multi-aircraft flight departments, and policies cover everyone involved with a company’s flight operation – pilots, maintenance technicians, flight attendants, flight department managers and aircraft operators. There are even provisions for companies using contract pilots, contract flight attendants and other contract crew.
NBAA Member Companies that do not yet participate in the Workers’ Compensation Insurance Program but would like to learn more should contact their broker to get a quote, or visit the program web site. If you are not a Member but are interested in participating in the program, visit us online to join today.
“We at NBAA are delighted to share the news of this dividend,” said Bolen. “This benefit is part of NBAA’s long-standing commitment to help Members and the industry as a whole, operate as safely and successfully as possible.”
Founded in 1947 and based in Washington, DC, the National Business Aviation Association (NBAA) is the leading organization for companies that rely on general aviation aircraft to help make their businesses more efficient, productive and successful. The Association represents more than 8,000 companies and provides more than 100 products and services to the business aviation community, including the NBAA Annual Meeting & Convention, the world’s largest civil aviation trade show. Learn more about NBAA at www.nbaa.org.
Members of the media may receive NBAA Press Releases immediately via e-mail. To subscribe to the NBAA Press Release e-mail list, submit the online form at www.nbaa.org/news/pr/subscribe.