View this article online: https://www.insurancejournal.com/news/international/2015/03/02/358956.htm
Allied World Europe and Airbus have entered into a relationship whereby Allied World will offer complimentary aircraft hull insurance to airlines that purchase Airbus’ Runways Overrun Prevention System (ROPS).
ROPS is an innovative, performance-based alerting system that assists in preventing runway overruns, which is believed to be one of the most frequent causes of aircraft accidents today, according to an announcement issued by Allied World Assurance Company Holdings AG.
ROPS is certified by the European Aviation Safety Agency (EASA), Federal Aviation Administration (FAA) and Civil Aviation Administration of China (CAAC), is in operation on approximately 200 aircraft, including A320, A350 and A380, and has been selected by operators of 1,500 aircraft to be delivered, according to Allied World.
Olivier Marre, Allied World’s senior vice president, aviation, said, “We are very proud to be entering into a relationship with Airbus to create genuine innovation in the field of aircraft safety. We see ROPS as an integral tool in reducing the frequency of aircraft accidents, and believe that this unique product will eventually benefit not only airlines and their passengers but also insurers. We are pleased to offer complimentary aircraft hull insurance to airlines that share this vision of safety and risk mitigation.”
Julian James, president, Allied World Global Markets, said, “We believe this is the first time in the field of aviation that a technical product meets insurance to create an innovative and integrated risk management solution for aircraft operators.”
Didier Lux, executive vice president customer services at Airbus, said, “We are pleased to work with Allied World to create a business innovation enabling Airbus’ operators to optimize their insurance costs by selecting ROPS for their Airbus aircraft. Such initiative is yet another example where innovative technology and services meet for the benefit of operators and aviation safety.”
Source: Allied World Assurance Company Holdings AG