Tue, Feb 01, 2005
Insurance Company Banks On Thought That They'll Eventually
Become Airplane Owners
Avemco Insurance Company, the only
direct writer of general aviation insurance in the US, has expanded
its successful Renter (non-owned) insurance program to include
pilots who rent multi-engine airplanes.
Jim Lauerman, Avemco’s Chief Underwriting Officer, is
pleased to be able to offer this option to the aircraft renting
community. Among other things this will allow pilots to complete
their multi-engine training. "By removing the insurance obstacle
for pilots who rent these aircraft, we have opened the door for
pilots to enter the world of twin-engine operations," he said.
"Ultimately, as these pilots come into aircraft ownership they will
have had the opportunity to build valuable flight time in
multi-engine aircraft, which will be very useful in securing
insurance at that time."
Avemco’s multi-engine renting pilots can now enjoy the
coverage they need, the security of protection by Avemco, and the
benefit of topnotch legal advocacy in the event there is ever a
claim against them. "The shield against subrogation is so
important," Lauerman said. "Litigation can be the largest expense
in a claim action, and having us on the pilot’s side, with
our legal specialists, gives our customers a huge benefit -- one
that is often overlooked until the rental pilot faces a suit."
Avemco Insurance Company, the leading pleasure and business
general aviation insurer in the United States, has been insuring
planes and pilots since 1961. Headquartered in Frederick, Maryland,
Avemco is rated "A+" (Superior) by A. M. Best Company, and AA (Very
Strong) by Standard & Poor’s. Avemco is a wholly-owned
subsidiary of HCC Insurance Holdings, Inc., an international
insurance holding company and a leading specialty insurance group
since 1974, based in Houston, Texas with offices across the USA and
in Bermuda, England and Spain.
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