Aviation insurer Chartis has added crisis response coverage to aviation policies for corporate customers, including airports and charter management companies. The new product provides customers access to immediate funds for crisis management costs resulting from a catastrophic event. With the coverage, policyholders can receive up to $250,000 of additional policy limits for costs associated with hiring a crisis management firm to help manage reputation risk, as well as for other crisis-related expenses, such as temporary living, travel, counseling, medical and funeral costs.
Argus Prism released what it claims is the first-ever flight-risk analysis tool (Frat) app for the iPad. The free app is intended to be integrated with a comprehensive safety management system (SMS). With the app, operators can access specifically designed flight-risk analysis report forms, allowing them to record risk factors, submit the Frat report and activate any required notifications for excess risk.
Conklin & de Decker will host its “Essential Tools for Your New Maintenance Manager’s Role” from February 15 through 17 in Irving, Texas. “The seminar provides helicopter maintenance managers the necessary tools needed to master their challenging position,” said Brandon Battles, v-p and co-owner. “Many maintenance professionals, when thrust into a management role, feel behind the power curve.
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.