Insurance Company Banks On Thought That They'll Eventually Become Airplane Owners

Avemco Insurance Company, the only direct writer of general aviation insurance in the US, has expanded its successful Renter (non-owned) insurance program to include pilots who rent multi-engine airplanes.

Jim Lauerman, Avemco’s Chief Underwriting Officer, is pleased to be able to offer this option to the aircraft renting community. Among other things this will allow pilots to complete their multi-engine training. "By removing the insurance obstacle for pilots who rent these aircraft, we have opened the door for pilots to enter the world of twin-engine operations," he said. "Ultimately, as these pilots come into aircraft ownership they will have had the opportunity to build valuable flight time in multi-engine aircraft, which will be very useful in securing insurance at that time."

Avemco’s multi-engine renting pilots can now enjoy the coverage they need, the security of protection by Avemco, and the benefit of topnotch legal advocacy in the event there is ever a claim against them. "The shield against subrogation is so important," Lauerman said. "Litigation can be the largest expense in a claim action, and having us on the pilot’s side, with our legal specialists, gives our customers a huge benefit -- one that is often overlooked until the rental pilot faces a suit."

Avemco Insurance Company, the leading pleasure and business general aviation insurer in the United States, has been insuring planes and pilots since 1961. Headquartered in Frederick, Maryland, Avemco is rated "A+" (Superior) by A. M. Best Company, and AA (Very Strong) by Standard & Poor’s. Avemco is a wholly-owned subsidiary of HCC Insurance Holdings, Inc., an international insurance holding company and a leading specialty insurance group since 1974, based in Houston, Texas with offices across the USA and in Bermuda, England and Spain.

FMI: www.avemco.com