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mham001
Topic Author
Posts: 5745
Joined: Thu Feb 03, 2005 4:52 am

A380 And Insurance

Thu Feb 17, 2005 1:25 am

Superjumbo A380 gives flight to insurance headaches

February 16, 2005

BY MARY WISNIEWSKI

The unveiling last month of the Airbus A380 -- a superjumbo jet plane with room for more than 500 passengers -- might force airlines to rethink the way they handle insurance coverage, according to an Aon aviation expert.

"Airlines will probably have to carry $3 billion in liability limits," said Wayne Wignes, president of the aviation group for Chicago-based Aon, an insurance services holding company. "That pushes the edge of the financial capabilities of the traditional aviation insurance market,'' which usually has limits between $1.5 billion to $1.75 billion.

http://www.suntimes.com/output/business/cst-fin-insure16.html
 
Runway25
Posts: 109
Joined: Sat Aug 30, 2003 4:13 am

RE: A380 And Insurance

Thu Feb 17, 2005 3:14 am

"Mham001" - An interesting article. I would assume not too many people have though of that particular angle to the A380. However as the article goes on it also states: -

"Airlines have met size challenges before. In 1969, a new financial model was developed to accommodate the liability demands posed by the 747, Wignes said."

I suspect this will happen (or is in the process of being secured) for the A380 & subsequent large/larger a/c of the future.

Nevertheless an interesting point which until you have mentioned I never really thought of.

Regards,


Runway25
 
leelaw
Posts: 4517
Joined: Sat May 29, 2004 4:13 pm

RE: A380 And Insurance

Thu Feb 17, 2005 3:29 am

Here's a related thread from last month with the original AON press release:

https://www.airliners.net/discussions...eral_aviation/read.main/1927705/4/

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