MEBAA Expands Aviation Insurance Program
The Middle East Business Aviation Association (MEBAA) expanded its aviation insurance program (MAIS) to include coverage for MROs, pilots, ground handlers, refuelers, fuel sales agents and other industry stakeholders. The association launched the aviation insurance group discount program for operators at the 2011 Dubai Airshow.
“Over the last two years we have provided our operator members with coverage for a range of risks, and with the program’s success came increased demand for coverage from non-operators,” said MEBAA founding chairman Ali Al Naqbi. “With help from our partner Willis, MEBAA worked on bringing more products that cater to the insurance needs of every type of member. The improved MAIS program provides all stakeholders in the Middle East and North Africa business aviation industry…[with] comprehensive insurance.”
Henry Adair, aviation regional practice leader at Willis, acknowledged that nearly 40 percent of MEBAA’s members are not aircraft operators but still have aviation liability exposure. Thus, Willis worked with AIG and Abu Dhabi National Insurance to offer premises, hangar-keepers and product-liability coverage up to an $850 million limit as part of MAIS. Dubai-based Diamond Jet Detailing is the first company to take advantage of this expanded offering, Adair said.
MEBAA members have 50 aircraft insured through MAIS, which represents close to $1 billion of aircraft value under management.