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Aviation Insurance 101

What’s in a Name? Responsibilities of the Named Insured

A key initial step in setting up an aircraft insurance policy is paying attention to the Named Insured. While it may seem like an innocuous detail, getting it right and making sure the Named Insured properly understands the extent of their obligations is important. So much so that we included it as part of our…

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Terrorism Risk Insurance Act

  A primer on the Terrorism Risk Insurance Program Reauthorization Act of 2015, and how it impacts business aviation, as published in the January 2016 issue of AvBuyer Magazine, by Stuart Hope. With passage of the Terrorism Risk Insurance Program Reauthorization Act of 2015 (TRIA), the Act is now extended to expire December 21, 2020.…

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Aviation Insurance Glossary

This glossary lists common terms used in Aviation Insurance Additional Insured – a person or persons other than the original named insured, who are protected under the terms of a policy. Aircraft Liability Insurance – protects insureds from claims by other parties (“third parties”) for bodily injury or death and property damage. The claim has…

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“PUNC”: Your Checklist for Insurance Coverage

Latest article in World Aircraft Sales Magazine explains the importance of setting up the policy’s Named Insured correctly. ‘PUNC’ (Pilots, Use, Named Insured and Contracts) is an acronym capturing the four most important areas of aviation insurance that result in the largest percentage of claims denials, asserts Stuart Hope. This month, we consider the Named…

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Silly Insurance Questions

Silly Insurance Questions ‘Do I really need an Aviation Insurance Broker?’, and similar… A thoughtful review of the basics in aviation insurance makes good sense. No question is trivial when the consequences of a mistake are huge, observes Stuart Hope. Previously we discussed a large claim that was denied because the co-pilot did not meet…

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Choosing the Right Insurance Broker

Article featured in World Aircraft Sales Magazine Let’s face it. On a purchase satisfaction scale of 1 to 10, aviation insurance fails to register even a 1 for most buyers. There is simply nothing sexy about buying a stack of papers that promise to pay for a future loss that statistically has a low probability…

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The Importance of Liability Coverage

Article Featured in World Aircraft Sales Magazine Business jets flown by a two-person salaried crew provide an impressively safe form of transportation – on a par with, and often safer than travel on a scheduled airline. Yet the risk of an accident – although very low – must be considered. A corporation’s Board of Directors…

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The Importance of Physical Damage (Hull) Coverage

Article featured in World Aircraft Sales Magazine It’s considered best practice for a corporation to select the correct insured value for their aircraft not only at purchase, but to review and adjust that value at least annually. A common trap for aircraft owners is to set the insured hull value at the original purchase price,…

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Other Coverage Considerations

Article Featured in World Aircraft Sales Magazine In our continuing insurance 101 series, you have now selected the right aviation insurance broker, determined what liability limit is needed and set the insured value of your aircraft at the appropriate level. However, there is still very important work to be done.  When you buy an insurance…

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Insurance for the Planes You Do Not Own

Article featured in World Aircraft Sales Magazine You’ve worked hard to get the insurance coverage just right on your company jet. Well done! But, just as my drivers’ education teacher always warned, “watch out for the other guy,” you too need to watch out for the “other guy” who owns or operates a plane that…

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