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Aviation Insurance Coverage Best Practices

Approved Use: It Matters!

June article in World Aircraft Sales Magazine reveals why careful attention must be given to your policy’s Approved Use. In 2005, a Challenger 600 ran off the departure end of New Jersey’s Teterboro Airport (TEB) at a ground speed of about 110 knots; smashed through an airport perimeter fence; carried across a six-lane highway (where it…

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Contracts: Devil in the Detail

August article in World Aircraft Sales Magazine shows why we need to think twice before we sign aviation contracts. Many of us routinely sign rental car agreements, bank loan documents and internet use clauses without even a cursory review. Why? Because we understand we won’t get the car, the loan or access to the internet site if…

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High Liability Limits: Over-Insurance or Smart Move?

Stuart Hope once again examines the potential consequences that the “nightmare loss” presents for an aircraft owner, and he recommends caution. In previous articles concerning protection for catastrophic loss, the discussion began with describing an actual accident in the hopes of getting your attention. One of those losses was the Challenger 600 that overran the…

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Those Dang Insurance Forms

By Stuart Hope, as published in World Aircraft Sales Magazine (August 2013) How do policy holders participate in sabotaging their own aircraft insurance program? Stuart Hope counts the ways. The yearly letter from your insurance company arrives sounding the alarm for another approaching renewal– Your aircraft insurance policy does not renew automatically, and we will…

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Approved Pilots vs. Covered Pilots: There is a BIG Difference

Article featured in World Aircraft Sales Magazine One of the most common questions we get from pilots is “Am I covered to fly the aircraft?” The answer is not as cut-and-dried as it might be hoped. There is a crucial difference between being covered to fly an aircraft, and being approved to fly an aircraft.…

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The Hidden Expense of a Hull Loss

Article published in World Aircraft Sales Magazine It’s been one of those perfect days to fly: sunny, clear and calm.  You are completing the third leg of what has been a successful business trip, when as the plane touches down, there is a loud “thunk” suddenly throwing you forward in your seat. You have just…

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Insuring for Indirect Exposure

Article featured in World Aircraft Sales Magazine A tragic accident that occurred in 2006 illustrates the importance of non-owned aircraft liability coverage and risk management strategies for a corporation. In January of 2006 a senior financial advisor of a large investment firm flew his personal aircraft on a business related trip with three passengers, one…

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Loaner Engine Insurance and What You Should Know

Article published in World Aircraft Sales Magazine Your chief pilot just informed you both engines on your jet are due for overhaul, potentially requiring the aircraft to be down for at least six weeks, possibly more. Fortunately, loaner engines are available from engine manufacturers and overhaul facilities (hereafter referred to as Engine Owner) that enable…

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What is Subrogation Clause (Waiver Of)?

Article featured on National Business Aviation Association The company you use for initial / recurrent pilot training has requested a certificate of insurance with a waiver of subrogation clause in their favor. The FBO at the airport near your favorite ski resort has asked you to sign a waiver of subrogation as respects their handling…

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A Basic Primer: Insuring a ‘For Sale’ Aircraft

Article published in World Aircraft Sales Magazine An aircraft owner has decided to sell their jet and has listed it for sale with an aircraft broker. The owner’s insurance policy is up for renewal and he/she is thinking it might make sense to add it to the broker’s fleet insurance policy since they will now…

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