Aviation Operators – beyond Hull & Liability policies

After the recent 2017 Aviation Conference in Hamilton,  I noted there was considerable discussion about improving safety and reducing risks and fatigue management.

When reflecting on those discussions I was reminded that it’s natural that aviation operators are principally focused on insuring their aircraft, as this is the lifeblood of their business. That aircraft insurance cover accounts for a good chunk of operating expenses too – often the third largest expense behind fuel and wages.

With more and more compliance being introduced, and increased responsibility under Civil Aviation and Health and Safety regulations, we think it’s equally important for aviation operators to protect yourself and your business against Liability risks.  These include Statutory Liability, Employers Liability, Criminal Defence costs and Directors and Officers Liability – business risks that are often overlooked in the aviation sector.

A major liability claim against you could be just as expensive as a total loss. So, having the correct liability insurances in place helps to minimise the ongoing stress and distraction to your business when you have to defend a liability allegation. This is because the underwriter will appoint the appropriate legal counsel to protect your interests, allowing you to continue focussing on your business.

In addition to one of our principals having over 30 years broking experience in aviation insurance, Austinsure has a depth of experience with Liability insurance and other business insurance risks.  We take a consultative approach with our clients and, over the years, we’ve been able to customise a number of Liability policy wordings to cater for the unique requirements of our aviation clients.

In today’s business environment, it’s important that you consider protecting your business beyond insuring the obvious assets. We can advise you on all your insurable risks, and will bring those to your attention in our discussions with you.

In closing, my colleague Blair Dyer has written a useful article on contracts and the implications that contracts have for your liability insurance. See the ‘Confirm Noted’ article in News Updates.

Neil Austin

[email protected]

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