“[New billionaires in fast-growing countries] have to buy longer-range airplanes. If you’re flying from Mongolia to Nigeria, it’s either a three-day journey flying commercial or a nine-hour flight on your jet.”
Travelers Aviation offers new coverage
Travelers Aviation is introducing nonowned aircraft liability coverage, which provides hull and liability protection for companies that rent or charter fixed- or rotor-wing aircraft. Also new are quota share endorsements, which allow Travelers to share risk with other insurers. (Such endorsements are typically used to cover large commercial or charter operators, aircraft management companies and general aviation airports.) Finally, Travelers now offers consulting services to its clients at no extra charge to help mitigate risk exposures, control loss costs and improve safety programs.