Many businesses depend on general aviation to get their owners and employees from point A to point B. An integral part of their business is based on an efficiently and safely run corporate flight department. That safety can have a positive effect on the insurance rates for their corporate aircraft, a key factor to consider when starting a flight department.
Whether owner flown or professionally flown, one criterion for a corporate flight department is developing an initial and recurrent training program in house, or obtaining one from a formal school. Discussing your plan for training with your aviation insurance specialist can help you secure the best terms for your department. Often your insurance agent can visit your department and introduce you to those underwriting your policy, providing them with an in person evaluation. In addition, an International Business Aviation Council (IS-BAO) certification is recommended. According to the IS-BAO website, it “is designed to promote use of high quality operating practices for international business aircraft operations. It provides baseline requirements for structuring flight departments and planning and conducting their operations”.
Corporate Flight Operations
Common aircraft flown in corporate flight departments include the Cessna Citation, Embrear Phenom, the Bombardier Global, Learjet and Challenger series, the Dassault Falcon and Gulfstream 550 and Gulfstream 650. When consulting your aircraft insurance specialist, they will ask a few questions about each aircraft’s flight operations.
- How many hours will the aircraft fly annually?
- What is the average passenger load?
- Where does the aircraft usually fly? Does it fly internationally?
- Where is the aircraft maintenance done and who will perform it?
Other insurance concerns besides just aircraft coverage should be considered in protecting an aviation business. An employee injury on the job can lead to costly in medical expenses and loss of work. Aviation businesses such as flight schools, FBO’s and corporate flight departments depend on aviation workers compensation insurance to properly safeguard the aviation related exposures of their business.
Aviation Insurance Resources (AIR) is licensed in all 50 states and provides a wide range of insurance options for flight departments of all sizes, covering business jets to helicopters. AIR represents all of the major aviation insurance markets, therefore offering you the broadest package of protection at the best available rates.
To insure your corporate flight department, please contact Aviation Insurance Resources by calling 877-247-7767 or visit AIR-PROS.com today! You can also follow us on Facebook, Twitter, LinkedIn, and Google+.