Boeing appears to be close to bringing the Max back into service. The software changes have been tested. Here are 2 significant impacts of the Max saga in the Aircraft Insurance industry: The Max Replacement The impact on the Boeing company has been tremendous, reportedly up to $1B in outlook changes, not counting the costs…
No need to go into the specifics, for any interested party on the 737-Max saga we know that it is the result of overextending a 50 year design to appease investors, customers, and other stockholders. The Max grounding is now crossing it’s 1 month anniversary. In a previous post we calculated the Aircraft Insurance claim…
The 737 Max saga continues. The media has been merciless with the manufacturer, articles such as this one are clearly biased against Boeing: https://www.bbc.com/news/business-47812225 Are they wrong about Boeing’s role in the 2 tragedies? Not entirerly. However perspective needs to be included if you are making a fair report. Why has the 737 stubbornly remained…
A lot of companies are investing and developing unmanned aircraft for use as people carrying Air-Taxis. From an outsider’s perspective the aircraft appear to be large scale drone technology. While I am not an expert on these technologies, it is easy to deduce that the reliability of drone electric motors and the stability that has…
The Boeing 737 Max grounding by President Trump yesterday could have a profound effect on the aviation insurance marketplace. The grounding arrives at a time when aviation insurance is transitioning into a hard market, making its timing fairly significant. Grounding Liability is a coverage that manufacturers like Boeing carry in their Products Liability policies. It…
Based on the second 737 Max accident we are in the midst of reaction surrounding the tragedy, with a lot of airlines grounding the jet until a confident conclusion is reached: https://www.usatoday.com/story/news/nation/2019/03/12/ethiopian-airlines-plane-crash-faa-joins-probe-over-boeing-737-max-8/3137819002/ Based on some recent comments about the complexity of new aircraft today and the connection of this complexity to accidents like this we…
Generally 70 is the age at which it becomes problematic for insurers to approve new pilots. The industry understanding is that pilots who were covered before they turned 70 will continue to be covered after they turn 70. Non-disclosure of age risks non-coverage! Of course there are always exceptions to the rule, a 70 year…
Air travel may be one of humanity’s greatest achievements … and one of its messiest endeavors. Every time an airliner makes a round trip flight from New York to London, it generates as much carbon as an entire year’s worth of home heating. And by 2050, unless something changes, aircraft emissions will triple. The problem…
Generally 70 is the age at which it becomes problematic for insurers to approve pilots. The industry understanding is that pilots who were covered before they turned 70 will continue to be covered after they turn 70. Non-disclosure of age risks non-coverage! When necessary and fisable True-Course sets up in-person meetings between the insured and…
Perhaps the most important part of your #aircraftinsurance policy is the Pilot Warranty. Make sure all pilots are well aware of the training requirements therein. Depending on the circumstances claims could be denied even if the claim is not related to pilot training.