Avionics News May 2021 - 57

Another factor is the cost
of repairs. Helicopter repair is
expensive, and loss of use claims
coupled with the repair costs
drive hull premiums higher.
Helicopter accidents are usually
significant events due to their
unique operating environment.
With that in mind, do
repair stations that
maintain and service
helicopters pose any
particular challenges
versus fixed-wingfocused MROs?
Repair stations that maintain
helicopters are placed into a higher
risk category by underwriters
due to the magnitude of claims,
which usually leads to significant
payout of the claims based on the
high cost of repair. This leads to
increased rates of coverage for
these exposures.
Do you have any advice
for managers of repair
stations and FBOs about
insuring their facility?
Is there anything AEA
members should be
considering or observing?
My best advice is to work with
a broker that has complete and
thorough direct access to the
marketplace. This will assure that
you'll be getting the best coverage
for your needs.
Be sure to ask your insurance
broker for a list of companies
they approached and what the
underwriter responses were. It's
also important that an underwriter
sees your operation. Current times
make that difficult; use video

conferencing and/or send them
extensive pictures so they can get
a detailed understanding of your
operation.
Working with a broker that
becomes very involved in the
operational discussions to make
sure they know every aspect of your
operation is the only way to ensure
that your account is being properly
represented to the underwriters.
If the broker doesn't have a
strong working knowledge of FBO
and repair station operations, they
won't be able to adequately advise
you on the proper coverages your
operation requires. This in turn will
limit their ability to successfully
represent you when needed.
As for what property limits
to carry, that's specific to each
individual account. It requires a
thorough discussion and review
of contractual limits to put you
in the best position to determine
the proper limits required for your
operation.
Are there any advantages
for AEA members to
use Wings Insurance
as their broker?
We're the largest aviation
insurance broker in the Midwest
and one of the largest aviationspecific brokers in the country.
We employ active pilots who
are also CFIs, as well as team
members who have airline, FBO,
charter, managed fleet, and
maintenance backgrounds. This
positions the Wings team to
thoroughly understand our clients'
operations and be our customers'
best advocates with the aviation
underwriters.

At Wings Insurance, we are
dedicated to an exceptional
customer experience. We offer
rapid response to customer
requests, detailed and thorough
policy coverage analysis and
multimedia risk representation to
the underwriters.
In what other ways can
Wings Insurance help
AEA members?
Thirty-seven years in business
has allowed us to establish
strong, respected relationships
with underwriting companies.
Over the years, many of these
relationships have turned
into friendships with the
underwriters. These solid
relationships give us the ability
to find solutions to difficult
insurance scenarios such as
higher limits of liability on repair
and overhaul facilities, coverage
for startup maintenance
operations or individual
technicians, and acceptable
solutions for the current hard
market restrictions on pilot
age, liability limit availability
and high-risk exposures. Simply
stated, if an AEA member isn't
satisfied with the service level
they have been receiving or is
having a difficult time finding
an insurance solution for their
operation or business needs, it's
likely Wings can help. q

To learn more about Wings Insurance,
visit wingsinsurance.com.
avionics news

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may

2021

57
http://wingsinsurance.com
Avionics News May 2021

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