1 A Partnership Proposal · 2019-06-11 · 1 A Partnership Proposal Aero Alliance at a Glance Firm...

transcript

AboutAeroAllianceInsuranceServices

WhyChooseAeroAlliance?BenefitstoourclienteleRiskManagementServicesAccountServiceTeamStayingIn-touchEducationMarketingEmergencyPreparednessSafety&LossControlServicesAviationMarketTidbitsAPartnershipMajorAccountExperienceList

APartnershipProposal 1

AeroAllianceataGlance

FirmfoundedbyBillSoldaninJune2002afterserving2InternationalBrokerageFirms.BillgraduatedfromEmbry-RiddleAeronauticalUniversityin1983withhonorsandisalicensedpilot.

ElaineWeatherbyjoinsourfirmin2019.Billcan’tsayenoughaboutElaineandhercareeraccomplishmentsintheaviationindustryservingFalconjet,Bombardier,MidcoastAviation.ElainewillbeavaluablepartofAeroAlliance’sgrowthstrategyin2019.AeroAllianceispleasedtoannounceanewstrategicalliancewithPointeNorthInsuranceGroup,oneofthelargestindependentinsurancefirmsintheSoutheast(100+employees)toassistourclientswithHealth,Life&Disabilityneeds.PointeNorthInsuranceGroupprovidesitscustomerswithcreativehealthcare,employeebenefitandriskmanagementsolutions.Ourexperiencedteamwillevaluateyourcurrentplananddesignaprogramthatwillworkforyouandyourmostimportantasset,youremployees.AeroAlliancewillalsobePointeNorth’sAviationInsuranceresourceinservingtheirclient’sspecialtyneeds!

AeroAllianceBenefits

• StrategicallyrelocatedtoPDKAirportintheAtlanta,GAmarketwithalltheMajorUnderwritingCompanies.Thisenablesustoholdfacetofacedealingswithmanyofourunderwriters.

• Aviationinsuranceexperienceextendsover30yearsservingCommercialAviationOps,CharterOps,PartsSuppliers,MajorAirports,Airlines,MRO’s,FBO’s,FinancialInstitutionsandCorporateAviation.We’realsolicensedtoprovidePilotswithbothLifeInsurance&DisabilityInsurance.

• OurexpertiseincludesthoroughlyunderstandingAviationInsurance(theExclusions)andnon-aviationcoverageneededtofinanciallyprotectyourCompany’sAssets(unlikemanyofouraviationinsurancecompetitors).

• AeroAlliancemaintainsanexcellentmarketreputationandglobalnetworkcombinedwithinnovativethinkingthatoffersarealalternativetothosewhovalueindividualattention,enthusiasmandcreativeinsurance

solutions.• Asavaluablepartofourclient’sinsuranceteam,wealsoassistclientswiththeirotherinsuranceneedsincluding:

o PropertyInsuranceo WorkersCompensationInsuranceo EmploymentPracticesLiability/Directors&OfficersLiabilityo CommercialCrime/FidelityInsuranceo PollutionLiabilityInsuranceo Professional(Errors&Omissions)LiabilityInsuranceo CommercialAutoInsuranceincludingHiredNon-ownedCoverageo CyberLiabilityInsurance

WhyChooseAeroAllianceInsuranceServices?

Ø AsyourInsuranceBroker,AeroAlliancetakesourroleasyourIndependentInsuranceRepresentativeveryseriouslyinprocuringcomprehensiveandcompetitiveinsurance.Westrivetobecomepartofyourriskserviceteam,whichincludeseffortstothoroughlyunderstandyourbusinessandpersonalrisksifyou’reapilot.Basedonourunderstandingofyouroperation,AeroAlliancewilldesignacomprehensiveinsuranceprogramtotransferliabilitiestothird-partyinsurancecompaniesandcoveranygapsininsurance.ThiswouldincludeAviation/GeneralLiabilityInsurance,EnvironmentalLiability,Directors&Officers,EmploymentPractices,Workers’Compensation,Property,ProductsLiability,PilotLifeandDisabilityInsurance…Youdon’twanttolearnyourComprehensiveGeneralLiability,oranAllRiskpolicyexcludesalossafterithappens,whichcanbeverycostly,especiallyifyouhavetohireanattorneytodefendtheloss.

Ø OurteamexperiencebeganwithanaviationeducationattheprestigiousEmbry-RiddleAeronauticalUniversity.TheCEOandPresident-BillSoldanhasservedrecognizednamesintheAviationIndustryincludingCorporateFlightDepts.,PartSuppliers,Airlines,Manufacturers,MRO’s,FinancialInstitutions,FlightSchools,BlimpsandSatellite/Spacebusiness.

Ø BillSoldan’saviationinsurancecareerincludedworkingwith2ofthelargestinternationalbrokeragefirmsintheworldwherehegainedvaluableexperienceworkingoneverycategoryofaviationbusiness.

Ø DedicatedtoprovidingQualityResponsiveServiceattheHighestLevel.

Ø WemaintainanExcellentMarketReputationandGlobalNetworkcombinedwithInnovativeThinkingthatoffersagoodalternativetothosewhovalueIndividualAttention,EnthusiasmandCreativeInsuranceSolutions.

OurPassion

Ø In-Touch-Skilledatworkingcloselywithourclientswhilebringingunderwriterstothetable

Ø RelationshipOriented-Skilledatworkingcloselytounderstandourclient’sconcernsandneeds

Ø ServiceFocused-Weunderstandthevalueofprovidingqualityresponsiveserviceandexpertise

Ø ForwardThinking-Ontheleadingedgeofthebusinessinsuranceenvironment

Ø Greatprideincultivatinglong-termbusinessrelationsonecustomeratatime

Ø SeniorLevelContact–ALWAYS!

Ø NoLayersofBureaucracy

Ø ClientFocused

Ø ForesightofChangingInsuranceEnvironment

Benefitstoourclients:

Ø Responsive,Dedicated,SeniorLevelAccountHandling:Skilledatworkingcloselywithourclientsandunderwriterstodevelopavaluedlong-termbusinessrelationship,sincewe’remosteffectiveasateam.

Ø WellKnownandRespectedAccountManagementTeam

Ø Fresh,NewIdeas:Aspartofyourinsuranceteam,AeroAlliancestrivestounderstandyourindividualinsurance

needssowecanenhanceourproductsandriskservices.

Ø ForwardThinking:OntheleadingedgeoftheAviationBusinessInsuranceEnvironment

Ø StrongDesiretoProvideSuperiorService:AeroAllianceunderstandsthevalueofprovidingqualityserviceandresponsiveexpertisetoourclientsyearafteryear.

Ø Andifyou’reaPilot,wewanttomakesureyouandyourfamilyisprotectedbymeansofPilotLifeInsuranceand

PilotLossofLicenseInsuranceshouldyouloseyourMedicalCertificate.

RiskManagementServicesInclude

Ø PreparationofallUnderwritingSubmissionsinHighQualityColorGraphics

Ø WorldwideUnderwriterMarketingServices

Ø Fast Contract Review, Offering Suggestions to your business with Respect to Insurance andIndemnificationRequirementsandtimelyissuanceofCertificatesofInsurance

Ø ClaimsReview,MonitoringReservesandExpeditingClaimsPayments

Ø AssistingyourcompanyinDevelopingSpecificSafetyandRiskManagementPoliciesandProcedures

Ø Financial products designedwith Aero Alliance can include a reserve pool of cash for future engine

overhaulorcommercialreserverequirementswithdifferenttaxstructures.

Ø Wecanhelp fundaircraftreserves,and fundpartneragreementson fractionalownership. Termlife,wholelife,oracombinationoftraditionalinvestmentscanbeused.

Ø Similarly. if a traditional business partnership is involved, in any business, we can assist with

partnershipagreementsforlife,disability,orretirement.Acombinationoftraditionalinvestmentsandlifeinsurancecanbeusedtofundthesevariousscenarios.Thequestiontoaskis,wouldyouwantyourbusinesspartners’widowasyournewpartner?Wouldyouwantyourwife/husbanddependentuponhowwellyourpartnercouldrunthebusiness?

StayingIn-TouchCentraltoyourfinancialsuccessisthequalityofyourinsuranceprogramtoprotectthecompany.ARiskManager’sroleisextremelyimportantinrecognizingallyourexposurestofinanciallossduetoapropertylossorliabilityclaim.IntheeventacompanydoesnotmaintainaRiskManager,werecognizeourprofessionalroleasextremelyimportanttoyourcompanyinprotectingyourassets. WehaverecommendedandplacedEmployers’PracticesLiabilityInsuranceforaclient with 100 employees, which they greatly appreciated after being sued by one of their employees. The policyprovidedboth legaldefenseandliabilitycoverage,whichendedupcostingtheinsurancecompany$125,000tosettlethisclaim.Thepremiumforthisinsurancewasonly$5,000.As part of your team, Aero Alliance will sit down with your Management Team to discuss your operation and theexposuresyoufaceasacompany,especially inour litigioussociety. Wewill identifybothAviationandNon-Aviationexposuresthatcouldhaveanegativefinancialimpactonyourcompanyandmeanstotransfertheserisksto3rdPartyInsuranceCompanies. Afterwegatherthenecessaryunderwritinginformationfromyou,ourteamwillnegotiatethemostcomprehensiveandcompetitiveinsurancetermsforyourAviationOperation(s).We’llcontinuetoserveaspartofyourRiskServiceTeambyworkingcloselywithyouthroughouttheyears,toensurewecontinuetounderstandyourindividualgrowinginsuranceneeds.Ourclientsrelyonustobeskilledatworkingcloselywiththem,providingadviceandrepresentingtheminthebestpossiblelighttotheinsuranceindustry.Itisourintentiontofullyunderstandandbeapartofyour“business”aswellasbeinganextensionofyourriskmanagementdepartment.• YourTeamrecognizesthatyouneedtorelyonustoprovide“ResponsiveExpertise”. AeroAlliance’s“Responsive

Expertise”includesnotonlyhavingknowledgeofthenumerousinsurancecoverage’sandaccesstothemarkets,butinfluencingthemarketintermsofratesandcoverage’sprovided.

• Aero Allianceworks in the insurancemarketplace every single day. Marketing is not passed off to amarketingdepartmentorcentralizedmarketingteam,whereyouareoneofanumberofrenewalsbeinghandledthismonth.WepromisetogiveeveryclienttheindividualattentiontheydeserveaspartoftheirTeam.You’renotanumberatAeroAlliance;you’respecialandgreatlyappreciated!

• OurTeamsubscribes tonumerous InsuranceMagazinesandhasauthoredarticles, sowestay informed toevents

impacting our industry. We also keep our customers inmind a regularly share articleswith them to keep theminformed.

• Our teamwillmeetwithyou face-to-faceona regularbasisalongwithyour insurancecarriers’managementand

underwriters,whetherdomesticorinternational.Wemakeitourbusinesstohaveclosebusinessrelationshipswithall our carriers, on behalf of our clients. AeroAlliance is strategically located inAtlantawith themajor aviationunderwriters,whichwillbekeyinservingyourinsuranceneeds.

• WeannuallyattendProfessionalInsuranceAgentEducationalEventforaminimumof15hourseachyeartokeepupwithissuesinourindustry.

Marketing

Ø AviationHullandLiabilityInsurancePrograms

Ø AviationGeneralLiabilityInsuranceProgramsforMRO’s,CharterOpsandAirportLiability

Ø ProfessionalLiabilityInsurance

Ø Workers’CompensationandEmployer’sLiability

Ø Property/HangarincludingBusinessIncomeInsurance

Ø CyberLiabilityInsurance

Ø EmploymentPracticesLiability

Ø CommercialAutoandInlandMarine

Ø PollutionLiability

Ø PilotLife&DisabilityInsurance

ComprehensiveAviationInsuranceProgramsdesignedexclusivelyforyourOperation

“TheKeyIngredientsforSuccess”

Ø Creatinganimageofconfidenceinmanagement

Ø Accurateandtimelybusinessprojections

Ø Periodicunderwriterandlosscontrolrepresentativevisits

Ø EnsuringahighdegreeofoperationalsafetyinOperations

Ø CreatingandinitiatingQualityAssuranceimprovementandoversight

YourAeroAllianceInsuranceBrokerrepresentativeisanintegralfigure

inconveyingtheseattributestotheunderwritingcommunity.

AviationInsuranceMarketsDomesticLeadersandParticipants CommentsGlobalAerospace PotentialLeader&FollowingMarket SM4SafetyPrograms/Workers’CompensationStarrAviation PotentialLeader&FollowingMarket Workers’Compensation/ExcellentLossControlAIGAviation PotentialLeader&FollowingMarketAllianzAviation PotentialLeader&FollowingMarketUSAU,Inc. PotentialLeader&FollowingMarket Workers’CompensationQBE OutstandingWorkers’Compensation Underwriter,PotentialLeaderand FollowingMarketMeadowbrook FollowingMarketW.Brown&Associates PotentialLeader&FollowingMarketAXA U.S.OfficeofFrenchInsurer PotentialLeader–MostlyFollower PurchasedbyStarrAviationOldRepublicAerospace EmergingintoFollowingParticipation XLAerospace PotentialLeader&FollowingMarketHCC PotentialFollowingMarketSwissRe FollowingMarket/OpenedNYOffice

AviationInsuranceMarkets(cont.)

LondonBasedandOtherEuropeanInsurers

Catlin

Chaucer

Faraday

Antares

Hiscox

Travelers

MunichRe

SwissRe

Alterra

Talbot

LaReunionAerienne

Workers’CompensationThere’snowayaroundit.Accidentallossoflife,healthorpropertyinyouraviationbusinesstakesmoneyrightoutofyourbottomline.Performingaircraftmaintenanceasnecessary,installingasprinklersysteminyourhangar,properlyhandlinghazardouschemicals,replacinga ladderbeforeaworker isseriously injured-thepro-activeactionshelpyoutopreservelife,propertyandprofit.Thepotentialforlosscanbeobviousorhidden.Impropereyeprotection,forexample,canleadtocostlyeyeinjuriesonthejob.Theresults?Humansufferingandreducedproductivity.Butevenlessobviousproblemslikeinadequateventilationinahangarareacanleadtohighratesofemployeeabsenteeismandlostproduction.Whatcanyoudo?Lossesarehardtopredict,butonethingiscertain:Unsafeactsandconditionscauseaccidents.Identifythecausesofaccidentsandyoucantakecorrectivestepstominimizeloss.Inthelongterm,youwillseeadifferencetoyourbottomline!

Why?A strong loss control programprovidesmany benefits. One of these benefits is protecting the assets in your business.Manybusinessesdefinetheassetsasaircraft,hangars,equipment,tools,andparts.Carefulexaminationofyourbusinesswould show a hidden asset, your employees. Awell run loss control programwill reduce the potential injury to youremployees, allowing them to work productively, positively impacting your bottom line. In addition, when employeeinjuriesoccur,theaccidentmayinvolveadditionalcostssuchasdamagetoaircraft,equipmentorproperty.Acarefulanalysisofyourworkplaceaccidentscanbearealeyeopener.Manybusinesseswillfocusonthedirectcosttothe business that is readily documented in insurance loss runs such as; payments to doctors or lost time payments toemployees.Thereisanadditionalcostthatmaybeburiedintheoverheadofthebusinessbutisattributabletoemployeeaccidents. This figure is sometimes referred to as the “indirect cost” of accidents and statistics have shown that thisamount isusually five times the level of thedirect cost. Inmost cases, insurance companiespay the entiredirect cost;however,theindirectcostcomesfromthebusinessbottomline.Indirect costs can include: overtime for employees needed to replace the injuredworker and damage to equipment orproductsasaresultoftheaccident.Someoftheothercostswouldbethesalarycostofthesupervisorspentinvestigatingaccidents,thesalarycostsofadministrativepersonnelfortimespentonfollowinguponclaimpaymentandpotentialfinesorpenaltiesthatmaybeleviedbystateorfederalagenciesasaresultoftheaccident.WORKERS’COMPENSATIONEmployersarerequiredtoprovideworkerscompensationinsuranceforemployees.Thereisadirectrelationshipbetweenastronglosscontrolprogramandlowerworkers’compensationcosts.In2001over136,246,000employeeswerecoveredbyworkers’ compensation insurance. In the sameyear therewere3,900,000disabling injuries and5,300 fatalities.ThetotalcosttoAmericanbusinesswas$132.1billionand85,000,000lostworkdays.Themosteffectivemethodofcontrollingyourcostofworkers’compensationiswithaneffectivelosscontrolprogram.

Workers’CompensationServiceHighlights

Ø AeroAllianceworkscloselywithourclientsindevelopingaSafetyPolicytobesignedbyeveryemployee.Safetyiseveryone’sresponsibility.

Ø AeroAlliance’smissiontoworkcloselywithourclientsandourcarriersinprovidingLossControlServicesincluding

EducationalResourcestomaximizeworkplacesafety.Ourdesireistoincreasesafetyawareness,whileatthesametimereducingpersonalinjuryandmateriallosses.

Ø AeroAlliancenegotiatessignificant“goodexperiencereturn”cashdividendprogramsforourclientsthatreturned

themthousandsofdollars.OurClientslovereceivinganannualdividendcheckfromtheirinsurancecompany,whilewelovedeliveringittothem!

Ø Webringnewindustrytechnologiesandservicestotheattentionofourclients.

Workers’CompensationInsuranceMarkets

Marketing:

♦ StarrAviation

♦ QBE

♦ ChartisAerospace/AIG

♦ ACEGlobalMarkets

♦ AllianzAviation♦ XLGroup

♦ LibertyMutual

♦ USAIG

♦ GlobalAerospace

♦ Beacon-National

EmergencyPreparedness

When disaster strikes, your insurance broker is a key liaisonwith underwriter claims and legal representatives in theinitialefforttocoordinatethenecessaryresponse.Wehaveexperiencedmajordisastersandworkedwithairline,airport,corporateflightdepartmentsandothercommercialaviationoperationsindevelopingemergencyresponseplanswiththeirinsuranceunderwritersclaimsdept. AeroAlliancewouldexpectanemergencyresponseprogramto looksimilar to thefollowing:EMERGENCYPREPAREDNESSRESPONSEØ INITIALNOTIFICATION

o NTSB/FAALiaisono BrokerCoordinationo UnderwriterEmergencyTeamContacto ContactwithAerodynamics,Inc.

Ø WRECKAGEANDPERSONALEFFECTSSECURITY/RETENTION

Ø NOTIFICATIONOFNEXTOFKIN(intheeventofacatastrophicclaim)

o MedicalExaminero CompanyManagemento ProperlyTrainedStaff-RehearsalAndDisasterResponseTraining-CoordinationWithAirlineDisasterDrills

Ø SURVIVORCONTACT

o Passengero NextofKino ImmediateFamilyo Repatriation

EmergencyPreparedness

Ø CLAIMSHANDLING

o DiscussLossOnlyWithManagement,StaffAdjustersandtheInsured’sDefenseCounselo LossControl

Ø LITIGATIONMANAGEMENT

o AssignmentofDefenseCounselo RecordsRetentiono ReceiptofSummonsandComplaint-NotificationtoAviationUnderwriterPersonnel

Ø NORMALIZINGOPERATIONSFOLLOWINGADISASTER

o PublicRelations/NewsMediaRefrainFromMakingConclusions,Statements,AdmissionsToTheMediaOtherThanThroughTheAssignedSpokesman

Frommanyyearsofactualhands-onlosscontrolexperiencewithkeyproviders,werankGlobalAerospace,StarrAviation,USAIG,PhoenixandAIGatthetop.AeroAllianceservesastheconduitfortheseserviceswhichmayinclude:

EmployeeSafety

� SMS(SafetyManagementSystem)ConsultationandImplementation� StructureofSafetyProgram� PersonalProductiveEquipment� Lockout/Tagout,ConfinedSpaceEntry� ElectricalSafety� FacilitySafety� BloodbornePathogens� MachineGuarding� PoweredIndustrialVehicles� HazardCommunication(Right-To-Know)� WalkingSurfaces&FallProtection� RepetitiveMotionInjuryPrevention� Training� AccidentInvestigation� EmployeeNoiseExposures(Abletoconductnoiseexposuresurveys)� Resource libraries are available and loss control representatives can provide practical results-oriented safety

awarenesssessionsforemployees,supervisorsandmanagersintheareaslistedabove

UniqueCharacteristicsofAviationInsurance

Ø Both Airport and AircraftLiabilitylimitsplacedonanoccurrencebasis. Ø Noaggregateexceptwithrespecttoproductliability. Ø Hullcoverageis“AgreedValue.”Intheeventofatotallosstheamountpaidisnotreducedbydepreciation. Ø Extremelybroad.

� Cancoverwarperils. � Noexclusionsforflood,earthquake,etc.

Ø AllRiskistruly“AllRisk.”Ø Verylargeliabilitylimitsreadilyavailable.

ThePremiumUniverse

Ø Airline........................................................................................................................$1.6BillionØ AircraftProductLiability..................................................................................$925MillionØ GeneralAviation(U.S.).......................................................................................$1.3BillionØ Space..........................................................................................................................$800Million

Today’sAviationInsuranceMarket

Ø Insurers endured significant claims in 2017 and 2018 across all aviation segments further erodingunderwritingprofitability.TheBoeing737MaxclaimswillalsosignificantlyimpacttheAviationInsuranceIndustryinthefuture.

Ø Duringthelast3years,wehaveobservedover20insurersexitaviationlinesofbusiness(USandLondon)

combinedwiththemergerofsomeofthelargestaviationcapacityproviders(contractioninourindustry). Ø Anothercompellingfactortothereductionincapacityisthelossofunderwritingjobs.Thisthreathasput

increasedpressureontheunderwriterstostriveforhigherratesinordertosurvive. Ø Aviationbusiness/classeswithpoorlossrecordsareexperiencinglargerrateincreases(i.e.Helicopters). Ø Verylargeliabilitylimitsremainreadilyavailablein2019. Ø Lookingahead,improvedratescombinedwithprofitableunderwritingresultscouldattractnewmarkets

andeaseincreasedpressureonrates. Ø BasedonAeroAlliance’sstrengthandexperience,

strategicproximitytounderwriters,andtheteamrelationswedevelopedbetweenourclientsandunderwriters,weexpecttominimizetheimpactofanyrateincreases.

Ø Profit-SharingavailabilitywithcertainstrategicAero

Alliancemarkets.

Today’sAviationInsuranceMarket–SignsofChange

Ø Rotor-winglossescontinuealongwithhullandliabilityrateincreases. Ø GeneralAviationpremiummarginsarealmostnon-existent. Ø IncreasesinGeneralAviationpremiumsusuallyfollowpooraviationunderwritingresults. Ø ProportionalReinsuranceunderwritingisincreasingpressuresonrates.Ø Underwritingcapacityisshrinkingduetopoorunderwritingresultsaslossescontinuetoexceedincome.Ø CreditCrunch–underwritersmaynotfullyrecognizetheextentoftheirownexposures.

� Equity.� Propertyholdings.� Bondportfolios.“Solvencymarginsmaycreatecapitalconstraints.”

APartnershipProviding superior service at every level is a way of life at Aero Alliance Insurance Services. Many of our clientrelationshipsspandecadesandweunderstand theneed toconstantlyputourselves in theshoesofourcustomers.We have consistently delivered quality responsive service; competitive insurance programs; frequent visits withunderwritersandsafetylosscontrol;reviewofcontracts;awardandplacementofAviationGeneralLiability,Workers’CompensationandPropertyPrograms.Wewill never wait for you to come to us. Blending innovativemarketing, underwriting, loss control, claims andemergency response into one cohesive and seamless package iswhatwe do best. We love Aviation Business, theopportunity to provide quality responsive service and insurance solutions for you to consider. We do this withintegritysincewedesiretoretainyourbusinessforthelong-run.EarlypreparationwithAeroAlliancewillleadtobettertoqualitydialogueandassistusinachievingthebestrenewaloutcomeforourclientsandprospectiveclients.Thankyouforthisopportunity!WECREATESUCCESSSTORIESTOGETHER!

1 A Partnership Proposal · 2019-06-11 · 1 A Partnership Proposal Aero Alliance at a Glance Firm...

Documents