Experts meet to discuss insurance in business aviation and how the market works
Aeropodium presents for the second time in two years the successful seminar on insurance in business aviation to be held on April 25, 2013 in London, UK. This event is hosted by Gates and Partners LLP in central London.
This seminar is sponsored by Airclaims and distinguished speakers will contribute with their knowledge and experience, including John Bayley of Airclaims, Saleema Brohi of Gates and Partners, Peter Bull of Horizon Aerospace, David Chamberlain of Gates and Partners, Jerry Flaxman of Jerry Flaxman Consulting, Vanessa Leigh of Gates and Partners, and Anthony McCarthy of Willis.
The seminar will concentrate on the practical aspects of how the insurance market works. Gates and Partners together with a panel of brokers, underwriters and adjusters will explain the legal and practical aspects of aviation insurance. The discussions will include an overview of insurance language and practices in aviation, issues affecting the finance industry, a case study based on a runway overrun causing substantial aircraft damage, and practical considerations from a lessor's and financier's perspective. This event is aimed at financiers, lessors, owners and operators of aircraft.
The following topics are included:
Overview of insurance language and practices in aviation part 1: The insurance team and policy basics
- Role of insurer, broker, lawyer and loss adjuster
- The Lloyds insurance market and the international market
- Insurance, reinsurance, hull and liability insurance, legal liability to third parties and to passengers
- Agreed Value versus market value – what is the difference in finance terms?
- Sole loss payees and additional insureds
- The difference between a certificate of insurance and the underlying policy
- Fleet policies versus single aircraft policies
Overview of insurance practices Part 2: The Risks
- War, hijacking and other perils – exemptions and exclusions
- Denial of coverage – breach of sanctions and regulations, non-payment of premiums, illegal public charter
- Jurisdictional risk
- Breach of warranty and its effects
- Negligent entrustment
Expert underwriters, brokers and lawyer will be invited to take part in a panel discussion to debate issues affecting the finance industry such as
- AVN 67B – what does it really mean and does it really work in practice?
- Do assignments of insurance protect the financiers’ interests? How do they work in practice?
- EU regulation on third party liability limits – does the regulation need to be reviewed in the context of recent claims?
- How safe are the insurance and reinsurance markets?
Aviation insurance in practice workshop: Case-study based on a runway overrun causing substantial aircraft damage. Practical considerations from lessor/financier perspective including
- Residual value issues
- Rent obligations during repair period
- Lessons learned for the financier/lessor
This business aviation event is organized by Aeropodium. For more information, please visit the official website www.aeropodium.com/
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