Avemco Announces Rate Decreases At Lakeland | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Recent Daily Episodes

Episode Date

Airborne Unlimited-
Monday

Airborne-Unmanned w/AUVSI-
Tuesday

Airborne Unlimited-
Wednesday

AMA Drone Report-
Thursday

Airborne Unlimited-
Friday

Airborne On ANN

Airborne 10.23.17

Airborne-Unmanned 10.17.17

Airborne 10.18.17

AMA Drone Report 10.19.17

Airborne 10.20.17

Airborne-YouTube

Airborne 10.23.17

Airborne-Unmanned 10.17.17

Airborne 10.18.17

AMA Drone Report 10.19.17

Airborne 10.20.17

Thu, Apr 19, 2007

Avemco Announces Rate Decreases At Lakeland

Will Also Research Human Factors In Accidents

How often do we hear about an insurance company lowering its rates? At a Wednesday press conference at Sun 'N Fun, Avemco Insurance Company announced the company has lowered its rates on coverage for specific models in the Technically Advanced Aircraft (TAA) category. Rates have been reduced for all Cirrus models and Diamond's new DA-42.

When asked why they were making the change, Avemco Executive VP Jim Lauerman said, "To maintain our leadership in General Aviation insurance, we constantly monitor our underwriting results to ensure that we charge a rte that is adequate to promptly pay for all covered claims and also provide a solid return on our stockholders' investments. While inflation usually means that those rates need to increase, sometimes the analysis indicates that we no longer have to be as conservative in some of our assumptions. This is one of those times."

When asked if the continued education programs being announced by Cirrus and Diamond were contributing factors, Lauerman said, "These programs definitely made the decision easier."

Lauerman also announced higher liability thresholds for policy holders based on market demand. These changes are in addition to Avemco's recent broadening of liability coverage for bodily injury to family members who are injured due to the negligence of another family member.

In their continued interest in aviation safety, Avemco is working on a study of Human Factors as they relate to aviation accidents. This will be a multi-year research study known as Airmanship Education Research Initiative (AERI). The study seeks to understand pilot-induced accidents as they relate to mental processes and compare them with those processes of expert airman who have remained accident free.

"The goal of this research project for Avemco is obviously a business one: determining characteristics and practices that are associated with accidents will help us in underwriting and pricing risks" Jim Lauerman explains, "understanding more about piloting expertise will make for better and smarter pilots at all levels, and ultimately safer skies."

Lauerman noted, "Who better to do the research than an insurance company?"

FMI: www.avemco.com

Advertisement

More News

AMA Drone Report 10.19.17: Drone/Airliner Midair?, FAA Sued, CNN 107 Waiver

Also: Swedish Drone Ban Lifted, Rocky Mountain Hobby-Expo, Drone Shark Detection, Kittyhawk DJI Sync 2.0 Recent reports about a midair collision between a jet and a drone have been>[...]

Airborne-Unmanned 10.17.17: Eagles v Drones, DJI AeroScope, Drone Policy

Also: AeroVironment Award, Washington State Patrol, Altavian Nova UAS, Robotaxis The French Military is training four Golden Eagles to attack drones in flight as a way to defend ag>[...]

RFP: ANN Seeking New Site/Facility For Major Studio Upgrade

It's Official: Aggressive Upgrades For New Airborne Programs WILL Require New Digs It's been in development for years, but we're getting to a point where we think we can pull off s>[...]

Airborne 10.20.17: Santa Monica Setback, Red Bull Aviatrix, C-49 Flies Again

Also: HondaJet World Tour, Barnstorming, SpaceX, Dauntless, Fixed-Wing VTOL, Gravitational-Waves, Swedish Drones The City of Santa Monica may now proceed with shortening the runway>[...]

Aero-News: Quote of the Day (10.23.17)

“The reality is space is becoming a common domain for human endeavor. There were different times in our history where this was predicted, but this is no longer just a predict>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2017 Web Development & Design by Pauli Systems, LC