NEWS
  Aircraft & Manufacturers
23 OCTOBER, 2017 Boeing and Mitsubishi Heavy Industries (MHI) have entered an agreement that ...
Airbus is yet to commit to a maiden flight date for its A330neo, but both engines have been fitted . ...
26 SEPTEMBER, 2017 Boeing has created a programme office to support the New Mid-market Airplane, ...
  Airlines business
Gulfstream delivered 30 business jets during the third quarter, one more unit than the same period . ...
Hãng hàng không Quốc gia Vietnam Airlines cho biết sẽ khai thác trở lại đường bay Hà Nội - Tuy Hoà . ...
Embraer Executive Jets delivered the first midsize Legacy 500 assembled at its recently expanded ...
 
Capital & Insurance
Friday, 21/01/2018, 08:04:37 AM
2016 Aviation Insurance Report (continuous)
Comment Comment |  Send To E-mail Send To E-mail |  Print Print
To remain relevant, the insurance industry must “race ahead and match the rate of change that our clients are experiencing and be relevant to the things that create value to them today,” said McGavick.

As an example, he explained that XL Caitlin is “now partnered with the largest artificial intelligence transportation organization in the world, trying to figure out the new liability theories that will allow this technology to come forward. Because we know that if the liability theory doesn’t move, the whole technology could be sitting on the sidelines instead of being used by mankind.”

McGavick listed five factors currently driving the insurance sector: clients facing greater global exposure; data mined with new analytic tools; consolidation in the broker community; pension funds providing alternative capital sources for re-insurance; and regulation making capital more inefficient to use. He says these five drivers, combined with low premium rates, point to future consolidation in the industry.

“This is a really difficult time in the pricing cycle,” McGavick said. “The rates currently being charged for risk are not sustainable. In this environment, the only way to grow is consolidation.”

While the macro view of the industry may be that of an industry struggling to stay relevant, for business aircraft owners and operators the insurance broker is far from irrelevant. Maintaining a close relationship with your insurance broker can be a good source of information on industry best practices that can help lower rates and losses.

Source: ainonline.com/ (to be continued)

Comment Comment |  All Comment
Other news [Back]
 2016 Aviation Insurance Report  (01/07/2016)
 Gallagher Appoints 2 Former Willis Aviation Brokers as Divisional Directors  (24/06/2016)
 The air-leasing sector may soon face harder times  (10/06/2016)
 Fed signals interest rate hike firmly on the table for June  (19/05/2016)
 Suspension of Export Credit Support for Airbus Aircraft but How Long?  (21/04/2016)
 XL Catlin Increases Aviation Insurance Limits  (08/04/2016)
 Chubb Global Markets Names Wadhams as Chief Underwriting Officer, Aviation  (01/04/2016)
 How Bikini Airline Helped to Create Vietnams First Woman Billionaire  (24/03/2016)
 Central bank cites ‘global economic and financial’ risks  (17/03/2016)
 Allianz Launches Workers’ Comp Unit for Aviation Risks  (11/03/2016)
 Russian Supreme Court revokes ruling over insurance money for Superjet crash in Indonesia  (03/03/2016)
 Insurance companies demand €10 mln from Vnukovo in Total CEO plane crash lawsuit  (19/02/2016)
 Let AIB Probe Cause of Dana Air Crash, Says Ore (continuous)  (12/10/2012)
 Dana plane crash: Experts want Nigerians to embrace insurance  (01/10/2012)
 Dana plane crash: Experts want Nigerians to embrace insurance (continuous)  (24/09/2012)
 
SERVICES
 VALC News
On 19 Dec 2012, VALC successfully took delivery of the A321-231 aircraft with MSN 5418. This is the ...
Chi tiết
At 17:00 5th September, 2012 local time in Hamburg, Vietnam Aircraft Leasing Company (VALC)   ...
PRESS RELEASE  23-08-2012 11:12am
VALC delivered the first A321-200 to Vietnam Airlines.
Chi tiết
On November 5th, 2011, Vietnam Aircraft Leasing Company (VALC) took delivery of the EC155 B1 ...
 
VALC Valc, leasing, aircraft, plane, airlines, fastmoney, boeing, airbus, việt nam, airlines, viet nam, finance, investment Copyright © 2008 VALC.COM.VN
Back to top
Homepage  |   Contact  |   Make your homepage  |   Introduce VALC  |   RSS  RSS Feeds
Copyright © 2008 VALC.COM.VN. All Rights Reserved. Address: 14th Floor, Tower A Vincom Building, No.191 Ba Trieu Str., Hanoi, Vietnam.