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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 |

Aviation and Aerospace

Demand for air travel is predicted to double in the next ten years. Innovative and cost effective insurance programmes will play a fundamental role in providing aviation and aerospace the confidence they need to invest in, and grow their businesses.

Working with Marsh's UK Aviation & Aerospace team enables you to gain access to powerful resources, including our industry intelligence, analytics, risk placement, claims handling, and risk consulting capabilities. All this expertise strengthens our negotiating position when obtaining the pricing and cover for your risk and insurance requirements.

Marsh’s aviation team provides risk and insurance solutions to all sectors of the aviation industry including:

In addition to our core sector cover we also offer aviation solutions for:

Aviation Employee Benefits

Marsh provides employee benefits specifically tailored to the aviation industry. Marsh’s aviation employee benefits cover “Epsilon” comprises a range of insurance solutions including: Personal accident insurance, emergency medical expenses, loss of licence insurance, and term life insurance.

Aviation Lease/Finance

Leasing or financing aircraft and engines creates a multitude of risks. Our lease/finance facility is specifically designed to fit the needs of the aviation industry and gives you the flexibility to choose from a menu of available coverages. We also give you the expertise of a broker that handles many of the world’s largest contingent aviation risk portfolios.

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:

  • 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.

  • 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]

Coverage

It is impossible to predict where a loss might come from, therefore, it is critical that your insurance cover is as broad as possible. Discovering an uninsured exposure by experiencing a loss is not a position anyone wants to be in.

Marsh’s specialist policy wordings team helps you to make your coverage as broad as possible for your given exposures. By bringing our expertise to your insurance programme, we can deliver:

  • A full review of your current coverage, highlighting potential areas for improvement: The combination of our portfolio size and how well we coordinate across our Aviation & Aerospace Practice means we are well-positioned to provide you with the best coverage.

  • Multiple coverage enhancements at no additional premium: Our policy wordings team will seek to identify as many coverage enhancements as possible at no additional premium. Marsh will then use its broking experience and market strength to negotiate the broadest coverage on your behalf.

  • A strong advocate for you within the aviation industry: Marsh is a committed advocate for its clients in the marketplace and remains at the forefront of many of the aviation insurance industry’s new coverage enhancements. For example, in recent years, our work on corporate manslaughter and pandemic clauses has led to these covers now being widely used throughout the aviation market.

Read more about: Aviation Coverage [PDF]

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]