October 25, 2010

London: Global Aerospace Announces Partnership with Mitsui Sumitomo Insurance Group to Underwrite Workers’ Compensation Insurance for the General Aviation Community

Global Aerospace, Inc., Mitsui Sumitomo Insurance Company of America and Mitsui Sumitomo Insurance USA Inc. through their manager Mitsui Sumitomo Marine Management (U.S.A.), Inc. (“MSIG”) have entered into an agreement under which they will work together to underwrite workers’ compensation insurance for U.S. general aviation customers. Insurance for select general aviation customers will be available effective October 25, 2010. This new partnership will replace the previous underwriting arrangement between Global Aerospace and Tokio Marine & Nichido, whose policies will be renewed by Global Aerospace and MSIG.

Insurance will be available for corporate flight departments, flight management services, charter aircraft operators, select rotor wing operations, fixed base operators (FBO’s), aircraft repair and service facilities, manufacturers of non-critical aircraft parts, financial services, and small to mid size airports. Insurance will be underwritten through Global Aerospace’s U.S. Headquarters in Parsippany, NJ.

"We are very pleased to announce this new partnership with MSIG, with whom we have worked closely for a decade within the Global Aerospace Pool," said Jeff Cassidy, President and Chief Operating Officer of Global Aerospace, Inc. “MSIG brings strong financial security and outstanding claims handling capabilities to this new partnership."

Michael Daly, MSIG’s Senior Vice President and Chief Underwriting Officer, added, “We are tremendously excited by the opportunity to expand our partnership with an organization of the high caliber of Global Aerospace, Inc. and we look forward to serving the workers’ compensation insurance needs of the general aviation community.”

For more information about Global's Security, including Mitsui Sumitomo click here

About MSIG
The U.S. member insurers of Mitsui Sumitomo Insurance Group, (MSIG”) are wholly owned subsidiaries of Mitsui Sumitomo Insurance Company, Limited, which is considered among the world’s top property and casualty insurance companies.  MSIG’s U.S. operation is part of a global network of operations located in more than 38 countries, with its parent company located in Japan.  MSIG has a Best’s Rating of A+ (Superior) and specializes in providing commercial property and casualty insurance products to its customers in the United States.  MSIG also offers risk management services consisting of loss control and claims administration and rehabilitation services, along with personal lines insurance services.  For more information, visit our website at www.msigusa.com. 

MSIG refers to the Mitsui Sumitomo Insurance Group insurers underwriting coverage:  Mitsui Sumitomo Insurance Company of America and Mitsui Sumitomo Insurance USA Inc. Actual coverage is subject to the language of the policies as issued.  Mitsui Sumitomo Insurance Group, 15 Independence Boulevard, P.O. Box 4602, Warren, NJ 07059-0602. 

About Global Aerospace
Global Aerospace is the world’s leading aviation insurer and provides underwriting and claims expertise from its worldwide headquarters in London, a network of six offices in the United States, as well as Toronto, Paris and Zurich.  Global Aerospace has been dedicated to the aerospace industry for over 85 years and underwrites insurance on behalf of some of the world’s largest and most secure insurers and reinsurers.

Global Aerospace provides insurance solutions for airlines, aviation product manufacturers, general aviation aircraft operators, airports, other aviation service providers and space risks.