Last month’s tragic helicopter crash that killed NBA star Kobe Bryant, his daughter and seven others is putting aviation coverage on many insurance professionals’ minds right now, especially as we are coming off of the worst year in aviation insurance claims history with several high‐profile cases.
From satellites to helicopters, aviation insurance is incredibly multifaceted — and markedly specific. Policies in this specialty line have requirements (known as “warranties”) that the insured must adhere to or else coverage is voided. Such warranties can include pilot, territory and usage provisions.
In this episode, host Paul Martin, academic director of commercial insurance, chats with Lisa Peterson, director of operations at Summit Sky Advisory of Austin, Texas, about the ins and outs of aviation risk and aircraft insurance. They discuss the tools you need to feel confident in covering your insured.
A method of handling risk that involves the potential loss exposure being distributed among a number of persons.... More details for both novices and experts alike, Peterson shares the subtle differences between personal aviation and commercial or aircraft fleet coverage. When should you consider pollution liability (just think about all that airplane fuel), and what about property coverage for a hanger? How do a cargo plane and a passenger plane differ?
If you’re interested in selling aviation coverage, you’ll want Peterson’s advice on how to get started. Already an expert? Listen to her predictions for the market in 2020. (Hint: We may see 20‐25% increases domestically.) You’ll be glad you tuned into this timely and informative episode.
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