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Terry Wood: "Making Aviabel even stronger"
Aviabel is proud of its many years of Aviation leadership, and we are always looking ahead!
The newsletter contains some thoughts on the market, some tips on Winter flying from Jan Thiers an aviation safety specialist, details on new products we released this year and profiles on two of our staff. I hope this gives you an understanding of our passion for aviation, our expertise, and our commitment to you our clients.
It’s fair to say that Specialty Insurance markets have been having a tough time recently and Aviation has been no different. Market premium in many classes is at historic lows and profitability for Underwriters has been elusive. This certainly isn’t great for Underwriters but it also isn’t great for our clients who need both security and consistency. We all need a healthy and sustainable market, only then can Underwriters provide the service, and innovation that our clients deserve.
In recent months, driven by their results, several Aviation underwriters have withdrawn from the market and we expect more will follow. As I’ve mentioned we are proud of our past, and supported by our parent Axis Capital we now have even greater financial strength and access to resources. Aviabel is very much looking to the future. So where are we heading?
Aviabel already has a global presence and benefits from deep expertise and relationships. We are certainly the reference lead market in our home regions. To retain and grow this position we must seek continual improvement in the service we offer our clients. Our underwriting and claims teams, rock solid claims settlement and language skills give us an excellent platform for the future.
With the capability that Axis provides we are upgrading our systems and process, this is helping us expand our servicing and distribution capability, enabling our teams to more efficiently support your business.
At the heart of it we remain an Underwriting company with an expertise and love of aviation. We look forward to working with you, our clients and brokers, and to meeting with as many of you as possible over the coming months.
With Best Regards,
Terry Wood
CEO Aviabel / Global Head of Aviation AXIS Insurance
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Financial Strength
Since the acquisition of Aviabel by Axis Capital in April 2017, we have been hard at work on preparing our joint future. Aviabel will become part of Axis Specialty Europe, of course the Aviabel and NLP brands will be maintained. The advantage of this integration is that Aviabel will be able to offer even more financial strength to our customers. Little will change in your day-to-day interaction with Aviabel, your contacts at Aviabel will not change.
As as a result of the legal entity change, Aviabel's rating will increase from A to A+ Strong (Standard & Poor's) and A+ Superior (A.M. Best).
In short, we are ready for a productive future, together with you!
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Flying in winter: read our tips!
Winter is upon us. It's the perfect time to review how the weather conditions at the coldest time of year impact general aviation. Jan Thiers, aviation safety specialist and claims surveyor for Aviabel, offers concrete tips in case you plan on manning the cockpit of an aircraft yourself.
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Up-close in the cockpit with Aviabel
Stijn Keppens is training to become a pilot
At Aviabel, we want to know all about the risks that our customers are exposed to, but also about their passion and vision for aviation. Stijn Keppens, Head of General Aviation at Aviabel, decided to shift things up a gear and in early 2017 began training to become a pilot himself.
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A glimpse into our Aviation Cyber insurance
Cybersecurity is an elevated risk in the aviation industry. PwC’s 2015 Global Airline CEO Survey showed that 85% of airline CEOs (in the study) view cybersecurity as a significant risk. A tailormade insurance solution is necessary. The coverage of the Aviation Cyber Insurance allows aviation firms to finance the costs of compliance following data breaches as well as damages and defense costs that result from, among other causes, computer attacks. Subject to additional premium and assessment, costs associated with the interruption of IT systems can be covered.
This insurance product is designed for all aviation industry firms (aircraft operators, airlines, aircraft manufacturing and servicing organizations …), and has specific importance for aviation industry firms that operate in the European Union and are subject to the General Data Protection Regulation (GDPR).
By clicking here you’ll find a list of the main insured risks, the excluded risks and the obligations of the insured company. If you have any additional questions, please contact Enrique Flores.
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Aviation D&O covers the personal liability of directors and officers of aviation firms
Aviation industry directors and officers can be held personally liable for the actions of their firms, in particular following aviation accidents. Claims can be made directly against directors and officers, not only against the firms that they represent. It is then very important to protect the liability of directors and officers, in particular within the context of aviation accidents and the formal investigations that follow. Such investigations can be initiated by the prosecutor or by bodies such as the civil aviation authority, the ministry of transport or EASA.
The Aviation D&O insurance product is designed for all aviation industry firms on behalf of their board of directors, chief executives or senior managers e.g. head of operations. Targeted firms are aircraft operators, airlines, aircraft manufacturing and servicing organizations.
For more information about the coverage, exclusions … click here.
Please contact Enrique Flores for additional questions and support.
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Marie-Claude Paquet, Aviabel thanks you!
On November 19th 2018, after 32 years of service Marie-Claude Paquet left Aviabel and will now focus on her private life and enjoy her family. We would like to thank her for many loyal years of service.
Marie-Claude Paquet held various roles during her time here, most notably, Marie-Claude represented Aviabel as its outwards reinsurance manager for 28 years and built numerous contacts across the reinsurance community. Building many market connections through her professionalism, and gregarious nature.
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Marie-Claude was a regular participant at reinsurance forums such as the Monte-Carlo Rendez-Vous and Baden-Baden, always with a friendly face to greet our reinsurers and brokers. More recently Marie-Claude also acted as a reinsurance underwriter in her last years at Aviabel, contributing to the development in the Mexican market.
We thank Marie-Claude for her contribution to Aviabel and wish her the best in this new chapter of her life.
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Use our new bank account and references for Aviabel
Aviabel has a new bank account bank references. We ask you to use these with immediate effect!
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This document is for information purposes only, has no contractual value and does not constitute an advice. We do not represent, warrant, undertake or guarantee that the information in the newsletter is correct, accurate or complete. The SA Aviabel is not liable for any loss anyone may suffer by relying on the information contained in this newsletter. If you do not want to receive our newsletters anymore, you can unsubscribe.
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