Aerospace Infrastructure Insurance

The aerospace industry faces some unique challenges. Volatility in the geopolitical and economic environment continues to make day-to-day operations more difficult, as do challenges across the supply chain, rising costs and onerous regulatory and compliance requirements and restrictions.

Rapid advances in technology are also creating issues and producing higher value claims of increasing complexity. The threat of cyber-attacks and data breaches has also become a growing area of concern.

To overcome these challenges, you need to protect your business properly. This means partnering with a broker that understands your industry, and has the expertise and experience to ensure that you have the right insurance in place to protect your current and future business activities.

 

WHAT WE DO

Aerospace Infrastructure

We would support you throughout your day-to-day operations, providing you with the necessary resources, advice and guidance to ensure your business receives the most competitive advantage and best level of protection.

Typically insurers consider anything not relating to aircraft flying operations or space as aerospace infrastructure. Risks in this sector range from manufacturers, airports and maintenance repair overhaul (MRO) to a myriad of other aviation service providers such as refuellers and ground handling operations.

Our aerospace team is made up of some of the most experienced practitioners in the market, combining the most technically able with the most effective transactional brokers.

We work daily with insurance and reinsurance markets around the world and have a wealth of experience when it comes to the design and management of aerospace insurance programmes.

Aerospace Infrastructure What we do 

JLT's market position, industry knowledge and specific insight into how different aerospace manufacturing and infrastructure companies operate, places us in a strong and informed position to deliver the appropriate insurance solutions for you. We can ensure that your policy coverage meets your operational needs and changing exposures.

We have experience working with major airframe manufacturers, major part manufacturers, major component manufacturers, component manufacturers, aviation suppliers, fuelling operations, aviation contractors, airports, airport authorities, air navigation service providers, maintenance repair overhaul, grounded handlers / catering, terminal buildings and airfields.

Our team would provide you with a comprehensive service in connection with the placement and on-going management of your insurance programme, including expert support in the key areas of claims handling, contractual review and risk management.

Key Stats

360+ airports, authorities and ATC operations50+ Aerospace product and component manufacturer clients90+ Aersoapce clients in over 90 countries80+ Aerospace service providers and MRO operations

WHY JLT

  • As one of the world’s leading airline insurance brokers our position and leverage in the insurance market will allow us to consistently deliver the best results and competitive advantage for your operation
  • Our dedicated team of airline specialists have a wealth of experience and credibility in the aviation market place, so you know you’re always dealing with an expert
  • The way in which we manage your account is at the core of everything we do. What works for another client may not work for you – therefore, we listen to you and adapt our service to your individual needs
  • We pride ourselves on being accessible and flexible. We know this is crucial to your business and so we are available whenever you need us. Not just between the standard 9 to 5
  • We do not outsource key functions to third parties. JLT believe that having experienced individuals within each account management team improves service times
  • We are experts in handling airline claims of all sizes and complexity. We maintain an enviable reputation for claims service delivery within the London and wider global market; we truly understand that the real test of any insurance programme is how your policy reacts to a claim
  • We are market innovators and can provide additional and non-traditional insurance solutions to cover evolving and emerging risk exposures as well as access to bespoke proprietary tools and applications. We are committed to keeping our clients ahead of the field in an ever changing risk environment.

Case Study

Case Study 

Significant Rate reductions

The major airport decided to hold a formal tender review for their aviation insurance business and after consideration appointed JLT as their chosen representative. We completely remarketed the insurance programme, utilising new market capacity to great success. We achieved very significant rate reductions, at no additional premium, as well as providing the airport with an increase in its liability limits and a reduction in its deductibles.

INSURANCE SOLUTIONS

Aerospace manufacturing infrastructure insurance coverages can include:

Covers the aerospace manufacturer against third party legal liability arising from damage or injury caused as a result of a failure of their product. Extensions available include grounding liability and product recall liability

Covers all risks of physical loss or damage to aircraft as well as the legal liability for bodily injury or property damage suffered by third parties caused by an occurrence and arising out of the operation or use of the manufacturer’s aircraft

Covers legal liability for third party bodily injury or property damage arising out of activities at an aviation location. Includes third party liability for the airside operation of motor vehicles

Covers loss of or damage to third party aircraft, parts or equipment whilst in the care, custody or control of the insured

Covers the legal liability arising out of the sale, handling or distribution of aviation petroleum products, including refuelling, and/or defueling and lubrication of aircraft

Covers the legal liability of contractors and concessionaires who operate “airside” (i.e. in any of the restricted areas) at airports

Covers the legal liability of the air navigation service providers against a catastrophe arising from the services they provide

Covers the owners and operators of airports for their legal liability arising out of damages to third parties occurring on the territory of an airport or on board of an aircraft to which they provide services

Covers the third party liability risk associated with any work or duties carried out away from the insured’s property

With aerospace being one of the most dynamic and high-profile industries in the world, traditional risk areas are evolving and new risk exposures are emerging rapidly. In response, there are now many additional and non-traditional insurance solutions available. We have developed a number of creative solutions and have a proven track record for innovation.

Below are just some of the additional manufacturing and infrastructure insurance solutions that we can offer our clients:

We can provide tailored and specialised cyber insurance solutions for general aviation operators. Policies can be written on a modular basis meaning that cover can be tailored to specific elements of our client’s cyber risk requirements and exposure

FlightProtect is our D&O insurance product which responds to the risks inherent to the aerospace sector. It provides financial protection for directors and officers when defending claims relating to actual or alleged wrongful conduct whilst acting on behalf of a company. Cover can be extended to include managers, non-executive directors, the company itself and, in the case of aerospace companies, pilots and other employees

Personal accident insurance covers accidental death and disability benefits for crew, passengers, ground personnel or any insured person in the aviation industry

Covers against the loss of income that is the result of being unable to operate due to an unexpected interruption

Provides financial protection to the Insured in in the event that an employee sustains job-related injuries during the course of employment

Provides financial protection to the Insured in respect of assets exposed to defined political force majeure events such as war, acts of terrorism, civil disturbances, and other forms of political violence

An insurance policy to protect a buyer against the financial risk of losing a legal case. Covers paying the third party legal costs (plus own disbursements)

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