Insurers decry lax safety standards | Aviation International News

Insurers decry lax safety standards

Aviation insurance rates can be affected by the vagaries of the stock and investment markets, insurance claims unrelated to the aviation industry and histo

By AIN Staff • AIN Staff

May 6, 2008

Aviation insurance rates can be affected by the vagaries of the stock and investment markets, insurance claims unrelated to the aviation industry and historic peaks and valleys in policy pricing. And further cost pressures are added because the number of aviation insurers continues to decrease.

However, there is much that aircraft operators and FBOs can do to mitigate rates, and insurance companies warn companies not to slough off safety measures. “I don’t want to hear ‘that’s why we have insurance,’” said Ed Williams, v-p of general aviation services and director of flight operations for Associated Aviation Underwriters (AAU) Global Aerospace. “This thinking hasn’t worked and directly contributes to what we have today–high insurance premiums.”

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