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Thurday, 20/04/2018, 21:52:10 PM
2016 Aviation Insurance Report (continuous)
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“The [insurance] broker’s role is to help the helicopter community,” said Larry Mattiello, director of aviation for Aviation Specialty Underwriters in Addison, Texas. “The broker has been recognized by the FAA, NTSB, HAI [Helicopter Association International], and IHST [International Helicopter Safety Team] as the resource who is closer to the helicopter end user than any other personentity in our society.”

Mattiello emphasized the importance of ensuring that the broker knows the type and value of all equipment that could be attached to the aircraft and the cost of installing any permanent equipment. For example, specialized mission-specific interiors for EMS aircraft significantly add to the value of the aircraft, and the installation and equipment costs should be factored in when the broker goes to the underwriter for the coverage and the quote. Failing to do so may result in an underinsured aircraft that can leave the operator financially short in the event of a loss. Helicopter operators in particular need to be sure that external equipment such as cameras are covered, possibly in an addendum.

“Hull insurance typically covers just the aircraft itself,” said Mattiello. “If you have a ten-percent deductible on a helicopter used in the motion picture industry, and you have a $500,000 camera attached that’s owned by someone else, that camera may become a self-insured item that nobody is going to be happy about [if there is a loss]. Someone must pay for that camera, and it’s usually going to be the operator.”

Source: ainonline.com/ (to be continued)

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