AP Blog

By Jason Wissmiller, 09/28/2020
Following the September 11, 2001 terrorist attacks, most insurers who had been offering coverage for War Risk exposures (which typically includes terrorism) quickly canceled those endorsements, per the coverage cancellation terms noted on the endorsements. The market for terrorism related coverage dried up almost...
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By Brian Lindahl, 09/24/2020
As senior living providers prepare for approaching renewal periods, we wanted to provide an update on our view of the changing marketplace. This will aid you and your team in determining your risk tolerance appetite and preparing your budgets for potential increased costs and decreased coverage. Unfortunately,...
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By Jim Stevenson, 09/23/2020
Does employment status really matter? The Internal Revenue Service says “yes” but the Service Contract Act says “no” when the Department of Labor enforces The Act. The Internal Revenue Service says employee status is important because it determines if the federal service contractor must...
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By Gina Ekstam, 09/22/2020
Proactive loss control is an effective approach to helping agribusinesses reduce risk, improve product quality, increase production, and boost employee morale and retention. Loss control requires top-down commitment, from management to safety directors to employees. To be successful, there needs to be a culture...
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By John Tankersley, 09/21/2020
When it comes to insuring your manufactured / mobile home, the rules are different than a standard homeowner’s policy. Most people think when it comes to insuring one’s home that it’s all pretty much the same – call your local agent, give your address and some basic information about the...
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By Nathanael Alexander, Esq., 09/17/2020
Updating a previous article, as of Friday, September 11, 2020 the U.S. Department of Labor (DOL) has indeed decided to move forward with issuing revised regulations under the Families First Coronavirus Response Act (FFCRA) after a New York federal district court struck down several of the previous provisions of...
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By David Stein, 09/16/2020
The current economic climate is forcing producers and service contractors to take a hard look at insurance costs. Usually, the first (and easiest) step is to engage their broker to market the insurance program with alternate carriers. Competition will either drive down costs or validate the current placement....
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By Brian Lindahl, 09/15/2020
As an insurance and risk management partner to hundreds of assisted living communities across the country, we would like to extend an extra special “Thank You” to our assisted living clients for providing essential care and services to those in need. In appreciation of all that you and your team...
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By Rocky Roemer, 09/14/2020
Commercial automobile insurance as a segment of the insurance industry has been consistently unprofitable for around a decade. It’s a triple-whammy: Increasing frequency - due in part to distracted driving Higher loss costs (driven up by increased prices and complexity of the vehicles themselves) ...
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By Nathanael Alexander, Esq., 09/10/2020
As annual open enrollment time swiftly approaches, we wanted to take some time to note some of the COBRA considerations to be aware in the midst of the COVID-19 pandemic, particularly as it pertains to changing carriers/vendors during this turbulent time. The federal government issued guidance regarding COBRA...
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Top 10 Tips for Flying Clubs to Maximize Coverage and Minimize Premiums
07/15/2020

When setting up a flying club, or managing an existing flying club, there are several things you can do to make yourself more attractive to an underwriter.  By making yourself more desirable to an underwriter, you can maximize your coverage and minimize the premiums you pay.  Here are our Top 10 Flying Club tips:

  1. Pilot to Aircraft Ratio – Set a maximum of 10 members per aircraft.
  2. Age of Pilots – Member pilots under the age of 70 will receive more favorable rates.
  3. Training – Outline (in detail) your specific safety seminar, mandatory training, and proficiency requirements for your members.
  4. Claims-Free – Having claims will undoubtedly have a negative impact on the premium you pay.  Having a culture of safety will go a long way toward a goal of remaining claims-free.
  5. Pilot Roster – Keep a current pilot roster of only those pilots that are current flying members.  Non-flying members should not be included on the pilot roster.
  6. Equity Club – Equity clubs (members being owners of the club aircraft) typically enjoy lower premiums than non-equity clubs because underwriters believe with members owning a share of the aircraft, better care and caution ensue.
  7. Safety / Security – Detail the specific steps the club takes to ensure safe operations, control access to aircraft, and track maintenance items.
  8. Club By-Laws – Produce and maintain club by-laws that outline club expectations for members.
  9. Lower Cost Aircraft – Aircraft hull values significantly affect the total annual premium.  Lower cost aircraft will help keep your premiums down.
  10. Aircraft Type – Fixed tricycle gear, Standard Airworthiness aircraft are less expensive to insure than complex, tailwheel, or experimental aircraft.

Our aviation insurance experts at AssuredPartners Aerospace are adept at helping flying clubs navigate the aviation insurance market.  Please contact our specialists to discuss coverage for your flying club.