Travelers has launched Travelers Aviation, a new business unit targeting corporate and business aircraft, small to mid-size airports, aviation ground services and manufactured non-critical products used as aircraft components. In addition, the business unit will provide workers compensation coverage for corporate pilots and ground crew.
Travelers has been underwriting aviation business since 1994 through its Lloyd’s syndicate in London. Now, Travelers Aviation will be able to provide coverage for U.S.-based aviation exposures through a licensed U.S. company. Travelers Aviation is based in Atlanta, Ga.
“Since 9/11, the use of private and corporate-owned turbine aircraft for business travel has seen significant growth because corporate executives and managers are finding it difficult to deal with the delays that security issues can present and with the inconsistent service levels of the commercial airlines,” said Gordon Murray, president, Travelers Aviation. “So, the general aviation marketplace has responded to meet the increased demand for business and executive transportation.”
As part of the business unit launch, Travelers Aviation is introducing Flight Plan Premier, an integrated aircraft coverage form that provides an extensive set of liability and hull physical damage coverages designed to meet the needs of corporate flight departments operating jet aircraft on a worldwide basis. Policy limits of up to $300 million are available to qualified accounts.
“Our products and services are tailored for businesses with aviation exposures that require specialized coverages,” said Jeff Novak, vice president, Travelers Aviation. “We have a team of people who have a strong knowledge of and experience within the aviation industry who can bring underwriting and claims expertise along with dedicated risk control services to provide a superior level of service and safety to our customers.”
Travelers anticipates making Flight Plan Premier available throughout the United States.
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