The landscape of the aerospace industry is ever changing, and therefore clients with any form of aviation exposure require a uniquely tailored policy to suit their specific needs. With high value assets having varying geographical and operational needs, it is imperative that a client’s policy provides the right combination of protection and flexibility. Rhodes Risk Advisors and their aviation practice have over a decade of collective aviation insurance experience across a wide range of industry sectors. This industry expertise allows Rhodes Risk Advisors to fully understand the risk management needs of aviation clients and provide coverage accordingly.
Even when an organization does not wholly own an aircraft, the use of aviation as part of the business model still presents an exposure. Clients that charter, rent, have partial or fractional ownership, or utilize aircraft in any facet of their operations have a potential liability exposure based on company involvement. Non-Owned Liability coverage provides a necessary layer of protection to ensure company assets are protected in the event of loss connected to the firm. Additionally, this coverage solidifies risk management needs by specifically tailoring coverage for the company, and alleviating full reliance on another party’s insurance.
In general, most products liability and general liability policies in the standard marketplace contain an aviation exclusion. Clients who manufacture or work with components that can be utilized in any form of aerospace or provide any services related to aircraft and airports likely need an aviation specific liability policy. From sheet metal cutting and small component casting to larger scale operations that interact with aviation, dedicated aviation products coverage alleviates any concern. The sometimes limited knowledge of an end user coupled with high cost nature of aviation losses makes this a very useful risk management tool.