Sustainable Practices in Claims Management

Archive for the ‘Insurance Products’ Category

airplane crashed on beach

Sustainable Practices in Claims Management

The processes for adjusting and managing aircraft insurance claims have not changed significantly in recent decades. Depending on the extent of the damage, most hull claims have typically involved an adjuster being on site within a few days of an accident to assess the damage and plan for necessary repairs. However, in a world in which we are increasingly time- and cost-sensitive, as well as environmentally conscious, change is afoot.

Posted on March 18, 2022
aircraft in bad weather

Safety Update: The Case for Reconsidering Unpriced Exposures

When people think of aircraft insurance, what typically comes to mind is cover for accidents, hard landings and the like. In fact, most “technical” pricing of aircraft insurance uses only operational statistics and basic exposure data points (aircraft values, passenger numbers, etc.) to determine equitable premiums.

Posted on January 28, 2022
artificial intelligence

AI Update: Artificial Intelligence and Products Liability

With a simple voice command, Siri provides you traffic and weather updates; your “self-driving” car may take you to a doctor’s appointment; a medical algorithm may assist in the interpretation of your chest X-ray; and a financial algorithm analyzes and makes recommendations affecting your finances.

Posted on January 18, 2022
woman preparing for takeoff

5 Important Tips When Renting Aircraft

While renting any vehicle comes with risk, there is much more at stake when that vehicle is an airplane. The consequences of mechanical problems with the aircraft, operator (i.e., pilot) error, etc. can be significant and put people, the plane and other property in harm’s way.

Posted on November 29, 2021
light aircraft at hangar

Aircraft Registration, Title and Insurance: What You Need to Know

As a requirement of aircraft ownership in the US, you must register your airplane with the Federal Aviation Administration (FAA). It is not a difficult process, and there is helpful information available on the FAA website. It is, however, an important process for a few reasons. One is simply that it is a legal requirement for all owners to register their aircraft and to have the registration onboard the aircraft.

Posted on October 29, 2021
aircraft pilot

Partnering to Protect You: Special Programs for U.S. Policyholders

From participation in safety programs to encouraging interest in aviation and educating the next generation of industry professionals, the sharing of knowledge is essential to everyone involved in aviation. For that reason, Global Aerospace has developed or supports several programs designed to advance the industry and also make it easier to obtain aviation insurance.

Posted on August 25, 2021
aircraft ready for boarding

Global Aerospace and Brexit

The United Kingdom’s decision to withdraw from the European Union, commonly referred to as Brexit, came about as a result of a referendum held in 2016. The UK had joined the European Economic Community, as the EU was then known, in 1973, but its involvement was politically contentious for much of the period.

Posted on May 20, 2021
insurance counter

Our Future: Together

2020 has been a challenging year. It is our hope that our industry will come out of these difficult times with renewed purpose, finding greater strength and resilience from each other. We recognise that during these times, our clients need dependability, confidence and trust in the people they choose to do business with.

Posted on February 9, 2021
aircraft hangar damage

Weather Events: Impact of Natural Catastrophe Events on Aviation Insurers

Aviators and insurance professionals both keep a keen eye on weather, although often for very different reasons. During 2020, almost everyone was paying particular attention to what was ultimately record-breaking Atlantic hurricane activity.

Posted on February 9, 2021
Cessna 172 Skyhawk 2

Aviation Insurance and Additional Insureds

As an aircraft owner, you may be asked to add one or more individuals or an entity to your aviation liability insurance policy as an “additional insured.” This is a common practice in aviation and other types of insurance, but it is important that you understand the ramifications before agreeing to it.

Posted on February 2, 2021