LABACE Convention News

Goodwinds Says Insurance Market Improving with Economy

 - August 13, 2019, 3:08 PM

Insurance broker Goodwinds has been selling insurance to Brazilian pilots and aircraft owners for 15 years. Goodwinds president Alexandre Marroquim told AIN during LABACE, “The market is getting stricter at accepting risk—older airplanes and younger pilots are riskier, and resistance is because of larger losses in the world and in Brazil, with accidents and incidents that have occurred recently.”

Marroquim sees a more promising market for the rest of the year and for 2020. “Someone who flies more, pays more. People are starting to fly more, and the market is coming back.”

He noted that Goodwinds is the only insurance broker in Brazil where the partners are active widebody airline pilots, with a deep understanding of aviation. The company is a broker that works with all the insurance underwriters operating in Brazil while servicing every part of the country’s aviation industry. “Airlines, air taxis, general aviation, pilots, ground handlers, airports. We sell to anyone related to aviation,” Marroquim said.

Goodwinds is also moving into insurance for drones. “Regulations are in place, and insurance is being sold. Principally, this covers risk to third parties, but large drones, such as those used for land surveys and are more expensive, are sometimes covered as well.

“It’s very clear for Goodwinds that aviation insurance is part of a process where large amounts of money are in play. Sometimes our client needs an insurance certificate to meet a client’s demands, and we know how time-sensitive such situations can be, and we respond knowing what our clients need,” he explained.

“This is the twelfth year we’re exhibiting at LABACE. Here, we meet our clients, our suppliers, and our friends, and show our brand to the market,” he said.

One of the often-mentioned obstacles to holding the next LABACE event at Campo de Marte Airport is insurance coverage, although new IFR procedures are expected. Marroquim believes Campo de Marte, “even without an IFR procedure, is not especially risky. It’s possible to get coverage, by speaking with the insurer. If procedures are followed, and if the legislation is obeyed, insurance covers the operation.”