Wed, Jan 04, 2012
Program Participants Have Received Nearly $1 Million Since Its
Inception
NBAA Member Companies participating in the Association's
Workers' Compensation Insurance Program will receive yet another
20-percent dividend in 2012, due to the outstanding loss ratio of
the group, the Association reported today. Participants in the
program have received nearly $1 million dollars in dividends to
date.
"A cash dividend like this is quite rare in our industry," said
NBAA President and CEO Ed Bolen, "and we are extremely pleased to
have 20-percent of Workers' Compensation Program premiums returned
to Member Companies for two years in a row."
The NBAA Workers' Compensation Insurance Program was launched in
May 2009 to help NBAA Member Companies gain access to high-quality
coverage at reduced rates. The Program is independently
underwritten by Phoenix Aviation Managers and its affiliate Old
Republic Insurance Company, and administered by NationAir Aviation
Insurance.
Participants in the program have seen significant savings, and
the revenue earned by NBAA continues to help the Association
support its mission.
All NBAA Members who operate aircraft are eligible for this
Member benefit, regardless of size or Member category. This
includes all flight departments, from one- or two-person operations
to multi-aircraft flight departments, and policies cover everyone
involved with a company's flight operation – pilots,
maintenance technicians, flight attendants, flight department
managers and aircraft operators. There are even provisions for
companies using contract pilots, contract flight attendants and
other contract crew.
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