The Middle East Business Aviation Association (MEBAA) launched an aviation insurance group discount program for members on Tuesday at the Dubai Air Show.
Business aircraft sales firm Jetcraft is “seeing clear evidence” of a return to a more stable pricing environment for large-cabin, long-range business jets. “There has been a significant reduction in the gap between buyer and seller price expectations, due in part to the reduction of distressed assets that flooded the market in late 2008,” noted company co-owner Jahid Fazal-Karim.
The Japanese trifecta of tragedy has some people rethinking risk-assessment models and catastrophic risk in general. And maybe those of us in aviation should as well. After all, these models are only as good as the assumptions that are made about the likelihood of an event–or a series of events–occurring.
Jeppesen added fatigue risk management (FRM) functionality to its Crew Management System suite, furthering its work to prevent and mitigate fatigue risk in crew planning and operation. According to the company, the FRM solution takes into consideration crewmembers’ predicted levels of fatigue when generating and maintaining crew schedules.
Global Aerospace has announced its online insurance certificate processing site, www.eCert.global-aero.com. By early 2010, brokers and customers of the Short Hills, N.J.-based company (Booth No. 1845) will be able to issue and print insurance certificates anywhere in the world.
“You can bet the insurance market is going to change. All the ingredients are in place and it’s only a matter of time,” Jim Gardner, v-p of Insuramerica Aviation, an affiliate of J. Smith Lanier, told AIN.
Travelers Aviation, part of The Travelers insurance company, made its debut at the 2007 AIA convention at Indian Wells, Calif. This year in Nashville, Gordon Murray, its president, told AIN that in the past year Travelers has booked premiums in the millions of dollars and continues to look for opportunities. “The marketplace out there is competitive.
Jet Fleet International (JFI), a Los Angeles-based company that arranges discounts for products and services for members, last month introduced a fuel discount program currently available at 268 FBOs in the U.S. “Our goal is to get fuel prices 75 cents to $1 lower than the posted airfield price,” said JFI president Finn Moller.
Corporate aviation operators at all levels received good and bad news from insurance representatives at the 26th annual Aviation Insurance Association conference held in Kansas City, Mo., on April 29 and 30.
Since September 11, a growing number of countries are requiring that aircraft overflying or landing at their respective airports carry war-risk insurance.