New Insurance Company Gains 50th Member In Less Than Nine Months | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

** Airborne 04.18.14--CLICK HERE! ** HD iPad-Friendly Version--Airborne 04.18.14 **
** Airborne 04.16.14--CLICK HERE! ** HD iPad-Friendly Version--Airborne 04.16.14 **
** Airborne 04.14.14--CLICK HERE! ** HD iPad-Friendly Version--Airborne 04.14.14 **

Wed, Apr 20, 2011

New Insurance Company Gains 50th Member In Less Than Nine Months

Aviation Alliance Insurance Risk Retention Group Fights Market Conditions To Grow

At the 2011 Aeronautical Repair Station Association (ARSA) Symposium, Bill Perdue, president of the Aviation Alliance Insurance Risk Retention Group, Inc. (AAIRRG), announced that "we have just enrolled our 50th member, which is a significant milestone in our progress as a new insurance company".

AAIRRG was formed by a group of the leading independent FAA -certificated repair stations in the United States and is sponsored by ARSA. The driving rationale for forming AAIRRG was the very high premiums that repair stations were required to pay for liability insurance on aircraft products. Traditionally, few aviation insurance markets have considered covering repair stations. Insurance rates became even more burdensome after the Sept. 11 terrorist attacks when most saw their premiums jump as much as 350 percent.

Understanding that repair stations bore no responsibility for the increased market rates, ARSA researched alternatives to the then-limited aviation insurance market. The research led to the retention of Polaris Enterprise Group, Inc, Saint Helena, CA, which specializes in insurance alternatives, to explore the feasibility of forming an insurance company that would specifically provide aircraft product liability insurance for ARSA members. AAIRRG obtained its insurance license from the State of Montana on June 18, 2010, and began the process of quickly registering in 22 states.

In nine short months, AAIRRG enrolled its 50th member, Wheeling, IL's, Aircraft Propeller Service, Inc., specialists in the repair and overhaul of Hamilton Sundstrand composite propellers.

FMI: www.aairrg.com

Advertisement

More News

Aero-TV: Dual GPS Solutions -- Maps, Weather, And Traffic To Your EFB Devices

Dual Boasts GPS Support for iOS or Android Platforms While at the AOPA 2013 convention, ANN CEO and Editor-In-Chief, Jim Campbell met with Greg Lukins, Vice President of Business D>[...]

AD: Airbus Airplanes

AD NUMBER: 2014-08-02 PRODUCT: Certain Airbus Model A300 B4-600 and A300 B4-600R series airplanes.>[...]

AD: Bombardier, Inc. Airplanes

AD NUMBER: 2014-08-03 PRODUCT: Certain Bombardier, Inc. Model CL-600-2C10 (Regional Jet Series 700, 701, & 702) airplanes, Model CL-600-2D15 (Regional Jet Series 705) airplanes>[...]

ANN's Daily Aero-Linx (04.18.14)

All About Military Aviation Features well-illustrated articles on all major post-war combat aircraft, a directory of the world's air forces, air show reports and calendar and speci>[...]

ANN's Daily Aero-Term (04.18.14): Onboard Lightning Detection Systems

An onboard weather detection system that senses electrical discharges that suggest the presence of thunderstorm cells.>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2014 Web Development & Design by Pauli Systems, LC