Aviation companies are exposed to myriad risks. Understanding these risks and designing suitable insurance policy covers can be critical to the long-term survival of a business. Hayward Aviation has been arranging bespoke policies for aerospace companies for many years, ensuring that policy terms and conditions are changed in line with operational needs and changing exposures.
The global aerospace industry comprises businesses from the very largest multi-national OEM manufacturer to small engineering workshops manufacturing, servicing or repairs the smallest parts. The “supporting” service sector is equally diverse, from international airports, multi-modal transport hubs to regional and Executive Aviation airports to local aerodromes and private strips.
The nature and scale of risks is, therefore, diverse; although every business and organisation faces the same basic risks such as; liability to third parties and property and asset risks.
The nature of aerospace exposures, often seen as potentially catastrophic because of the nature of activities, means that some Insurance companies offer only limited insurance solutions for aerospace businesses. Contract complexity, geographical limits and industry “hold harmless” agreements require specialist knowledge of these risks.
The Hayward Aviation team have been supporting clients in the aerospace industry for many years – both direct operators as well as airports and aerodromes, OEMs, service companies, FBOs and MROs, engineering and testing services, ground handling operations and passenger services. Understanding the complex “airside” .v. “non-airside” risks to ensure that there are no gaps in cover or unnecessary duplication of cover is essential.
Together with the JLT Group network of offices and partners we can provide expert, practical experience and advice to design, develop and place aerospace insurance programmes for our clients.