Many aircraft owners are entrepreneurial by nature, looking for new opportunities, ideas and efficient ways to deploy capital and maximize their return. This mindset creates new and more affordable ways to fly the open sky without having 150 strangers sitting next to you. A common avenue to making aircraft ownership more affordable is to be…
Last August, I had lunch at a restaurant overlooking Centennial Airport (KAPA) with the chief underwriting officer of a major aviation insurance carrier. The view was mesmerizing. The blue sky and Rocky Mountains in the background, a variety of aircraft below us – some just landing, some preparing for takeoff and others parked in perfect…
As Florida grapples with the devastation of Hurricane Ian, its impact on the insurance industry is already making the headlines. Estimates of “insurable losses” are between $25-$40 billion. While this is a big range, even the lowest of estimates is a meaningful, industry changing number. You will hear of possible litigation between the insurance companies…
Lately, it seems there is always “something” happening in the world that derails the stability of the aviation ecosystem. In 2020, it was COVID. The pandemic brought the aviation industry to a screeching halt, causing all of us to look at each other asking questions that nobody knew the answers to. COVID sparked serious concerns…
As 2022 begins, inflation is a recurring conversation topic. It has become impossible to ignore the increased expenses associated with everyday goods, services and commodities. As aviators, we are mindful of the expenses associated with operating our aircraft. The King Air community, as with all turbine aircraft, has seen an increase in their insurance premiums.…
An insurance policy should provide peace of mind when putting capital at risk. However, when operating your King Air, you should be aware there are some perils that may not be covered, thus, giving you a false sense of security. A well-constructed aircraft hull and liability policy can, and should, provide a broad array of…
The aviation insurance industry has officially entered the “hard market.” King Air owners and operators are seeing sharp increases in premiums with reduced ancillary coverages. Unfortunately, you can expect this trend to continue throughout 2021. In addition to the hard market affecting price, it can also impact how strictly insurance carriers adhere to exclusions within…
Unprecedented times are upon us. In the past, King Air magazine has published dozens of articles on a variety of insurance topics. The content has revolved around experiences your fellow King Air operators have endured and we all have been able to learn from. Currently, the world is grappling to navigate COVID-19, which has sent…
In the October 2019 issue of King Air, I stated there are two parts to your King Air insurance policy regarding claims. One aspect – third party liability – was covered in detail. The second aspect is physical damage that occurs to your aircraft. When your King Air is damaged, many emotions are triggered. It…
When it comes to addressing claims, there are two parts to your King Air insurance policy. One is for physical damage to your aircraft and the second is for third party liability. For this article, I am focusing on the latter. The hull and liability policy is very broad in nature. In the insurance industry there is a…