Aviation Insurers Offer some Good News

Business Jet Traveler » August 2008
Friday, August 1, 2008 - 5:00am

At the Aviation Insurance Association convention earlier this year, industry experts reported a mini-boom that is benefiting the insured, large and small. The reason: a credit crunch throughout much of the economy, triggered by the U.S. sub-prime loan debacle, has been driving capital, especially private-equity funds, toward less risky investments, including aviation insurance. With a favorable loss history and an upscale worldwide clientele, the field presents an attractive vehicle in an uncertain time, explained representatives of some of the largest aviation insurers.

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““When I made the film The Invention of Lying, they gave me a private jet for getting back and forth between New York and London. I thought, ‘I will never use it’ but I ended up using it every weekend. You turn up, right, and the airport is completely empty. I mean, there’s just someone at the desk and then the pilot, who says, ‘Are you ready to go?’ and you say, ‘Don’t you want to see my passport?’ and he goes, ‘Oh yeah, I suppose I’d better.’” ”

-—actor and comedian Ricky Gervais