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AVIATION & AEROSPACE

The aviation and aerospace industries are constantly transforming. Marsh understands this and can help you navigate the risk-related challenges you face.

Placing over US$1.5 billion in premium each year | Combined market capacity of over US$3.5 billion | Working with 80+ insurers and 1,450+ clients |

New equipment and technologies, geopolitical issues, new global opportunities and, increasingly, new potential liabilities are all evolving rapidly in the aviation and aerospace industries; Marsh can help you manage today’s risks and also anticipate tomorrow’s.

Marsh’s global team of aviation and aerospace insurance specialists have been serving these industries for decades. The depth of this experience allows us to fully understand your challenges and enables us to deliver innovative solutions that are tailored to your needs.

With Marsh, you gain access to powerful resources, including our industry-leading intelligence, analytics, risk placement, claims handling, and risk consulting capabilities. All this expertise makes it possible for us to negotiate the best pricing and cover for your company’s risk and insurance requirements. 

For these reasons, many clients, large and small, choose Marsh to assist in reducing their total cost of risk, thus freeing up their capital to invest more strategically. As evidence of the value we provide to our clients, we are broker to a large number of the world’s leading airlines, manufacturers, airports, general aviation operators, and space-related risks. 

Facilities

Whether market conditions are hard or soft, your broker should be as creative as possible in seeking to maximise underwriter competition in order to obtain competitive rates and great terms on your behalf.

Marsh’s Aviation & Aerospace Practice has created a suite of placement facilities to cater for the needs of the aviation industry. Each facility has its own distinct purpose and offers its own specific benefits. These are:

  • Faster placement.
  • Less risk associated with the placement process.
  • Competitive pricing.
  • Broader cover.
  • Simplified claims process.
  • “Cushioning” against individual poor loss records.

Read more about: Pre Secured Capacity (PDF)

Risk Management

By helping you to analyse the operational, financial, and managerial risks in your balance sheet our aviation risk consulting specialists can support you in reducing your reliance on insurance by improving risk management processes. Areas of risk that need to be protected include:

  • Strategic Risk: The risk of not meeting strategic objectives, such as, loss of market position due to competition.
  • Operational Risk: The risks arising from failure in operational processes, such as, failure of the workforce or suppliers to comply with operational procedures and protocols.
  • Financial Risk: The risk of financial loss, such as, reduced passenger numbers, currency, and commodity risks.
  • Hazard Risk: The risk of natural and man-made perils, such as, extreme weather leading to operational restrictions and supply chain failure.

Marsh Risk Consulting’s costs can often be covered by a risk management bursary on your insurance policies.

Read more about: Aviation Risk Management (PDF)

Aerospace

Marsh has more than 50 aerospace specialists based around the world who work with hundreds of clients, including:

  • Major and component part manufacturers.
  • Airports.
  • Airport service providers and refuellers.
  • Maintenance, repair, overhaul.
  • Air navigation service providers.
  • Aviation lease/finance companies/banks.

We are recognised as the clear market leader in the aerospace sector, and we represent more than a 50% market share of the world’s top 50 aerospace manufacturers in terms of revenue*. Therefore, choosing Marsh gives our clients access to by far the largest overall global trading relationship with aerospace insurance underwriters. Furthermore, our clients benefit from our unrivalled experience and expertise in dealing with the needs of this specialised industry.

In addition, we have developed a suite of exclusive aerospace facilities, including MARS and Galaxy for the majority of aerospace business, the Banks Facility for financial institutions, and the Concessionaires Programme for companies working at airports on a temporary basis. These provide you with broad coverage and highly-competitive premiums. Our facilities allow us to quote and bind liability limits of up to US$1billion extremely quickly across a broad spectrum of industry exposures.

* Based on annual revenue statistics from Flight International.

Contractual Advice

Well-worded indemnity and insurance provisions can be critical in limiting, and where possible, transferring your exposures. Without the right contractual advice, you could expose your organisation unnecessarily to risk.

Our contract advisory team can provide:

  • Contractual review and advice: Specifically focusing on optimising levels of insurance coverage and contract scope.
  • Benchmarking against industry standards: Aggregated and anonymised data provides insight into levels of cover, scope of cover, and overall best practices.
  • Advocacy: Marsh advocate on your behalf to clarify contractual issues with other parties, such as finance companies, aircraft operators, manufacturers, airport service providers, etc.
  • Insurance review: Expert review of certificates of insurance issued to you by third parties.
  • Technical training: Aviation insurance contract  training for your team, highlighting potential areas where issues can arise.

Read more about: Aviation Contractual Advice (PDF)

Claims

Having your claims paid quickly is the fundamental reason you buy insurance; managing the claim is one of the most important aspects of the service that a broker can provide. Our aviation claims team, which is one of the largest in the world, can assist you in a number of ways, including:

  • Transitioning open claims: When taking over a new account, Marsh facilitates the orderly and seamless transition of open claims.
  • Claims review meetings: These meetings are designed to challenge insurers’ reserves and ensure that your loss record never appears over-inflated.
  • Loss settlement funds: These funds can facilitate quicker payment of your claims particularly for “every day”, low severity, claims.
  • Major claims payments: In the event of a total or a constructive total loss we will seek for your claims payment to be made within seven working days.
  • Loss experience/statistics: Marsh maintains a detailed loss record for your account enabling you to identify trends and put in place remedial measures to avoid frequent losses.
  • Lawyer and loss adjuster review: A review to ensure you are satisfied with the lawyers and adjusters working on your insurance claims – including a review on costs and fees.

Read more about: Aviation Claims (PDF)