Aviation Products and Grounding Liability (USD50M Limit)
This competitively-priced offering is ideally suited for smaller sized manufacturers and products suppliers who serve an increasingly vital role by providing high quality products throughout the aircraft and aerospace industry supply chain. The program features the experience and security of aerospace insurance leader Global Aerospace and also the benefit of centralized claims management and defense by experienced aviation counsel.
ABC developed this coverage to provide options for the manufacturers that may not otherwise be able to find coverage amounts up to USD 50 million; ideal for those bespoke companies in the aircraft and aerospace supply chain.
Global Aerospace has a demonstrated track record of providing high levels of service in the product liability market with unparalleled experience and strong financial backing that will benefit ABC U.S. Portal insureds. Coverage will be written on admitted security that is approved in all 50 US states. The ABC U.S. Portal facility is open to most brokers in the US and standard commissions will apply.
Umbrella and excess liability policies sitting on top of a general liability policy generally exclude aircraft products. If you are a small or medium supplier (or a supplier of a supplier) to aviation manufacturers, you likely need a separate aircraft products liability policy.
Protections afforded in the past are being eroded as the government and prime manufacturers are learning they cannot shoulder the whole load of some of the programs they lead. Primes may also not want to pay extra premiums for work that is somewhat out of their control as they are looking into mitigating their risks.
Another major reason for second and third tier businesses to buy aircraft products liability insurance is to make sure you can qualify for it. If you happen to have a major loss and you try to buy insurance, it may become difficult to find it which could cause problems landing future contracts or maintaining existing contracts.
This facility is ideal for manufacturers and products suppliers who are required by their customer contracts to buy aircraft products liability insurance and who may not otherwise be able to find lower coverage amounts. All tiered aircraft products manufacturers should consider a strong insurance and loss control program as part of the service offering to their customers.
Please send completed application forms and coverage inquiries to ABCPortal@global-aero.com
Aircraft Builders Council
4248 Park Glen Road
Minneapolis, MN 55416 USA
+1-952-928-4662 | info@aircraftbuilders.com
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