At the recent NBAA convention we had the great pleasure of meeting with most of our underwriters, there is no doubt the industry is witnessing the beginning of a soft market cycle and the shift has energized the industry. For our clients and the aviation industry as a whole this […]
insurance
An aircraft dry lease is a contract whereby 2 parties agree that one can lease an aircraft from the other. The dry lease CANNOT result in any profit for the aircraft owner, the reason behind this is simple: If you provide an aircraft service in exchange for profit then you […]
This was posted today on a public forum: “I learned a tough lesson this year in regards to our commercial insurance. THE BROKER MAKES ALL THE DIFFERENCE!! The broker I have been using for 25+ years was operating on autopilot, just figuring that the expiring policy would just renew. Because […]
For the past year we have been transitioning into the hard market for aviation insurance. The transition has been very tough both on aircraft operators (rate increases, less coverage options) and aviation insurance underwriters (several company closures with layoffs). Purely based on experience during the last hard market in 2002, […]
As we discuss the aviation insurance marketplace with our clients we focus on the consequences for them: higher rates, reduced coverages, fewer options, and stricter training requirements. But the big picture and understanding what is happening on the underwriting side is important for all stakeholders to work together. Reinsurers endured […]
It has now been more than 3 months since the 737 Max grounding by aeronautical authorities around the world. Here is a breakdown of our estimated insurance claim on Boeing’s Products Liability policy and its Grounding Liability Coverage: Average flights per aircraft per day: 5 Average passenger seating: 150 Average […]