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In Reply to: aviation insurance posted by davidk on June 12, 2003 at 01:42:04:
Aviation insurance is a very small and specialized market. There are only a few companies who write aviation risks, which is a shame. There are two types of risk: commercial and personal. They are covered under two FAR sections, Part 91 covers personal/business flying, including a salesman traveling in his Cessna 172 all the way to corporate executives in the company-owned Gulfstream V, as well as flight schools and local (within 50 NM of the home airport) sightseeing flights. Part 135 covers regulation of on-demand charter operations.
Aviation insurance is NOT a mainly-commercial insurance activity. Most of your customers will be personal owners who fly for business and pleasure. Of course, the commercial risks will be the larger commissions for you, as they are much more expensive policies.
I would write to the companies in that business. The ones I have personal knowledge of:
AIG (American International Group) Aviation--one of the few who write commercial risks, such as flight schools and part 135 charter operators.
AVEMCO--only personal/private (part 91) operations are insured. They got out of the flight school business two years ago, creating a large void in the market, mainly filled by AIG.
Great American - as far as I know they write both commercial and personal policies.
Again, its a very small market, and you may be better off trying to work with an established broker to find risks and get in with the few writers. Are you a pilot? That will help you find customers - I assume you are a fellow aviation "nut" who wants to mix business with pleasure (flying is definitely the most fun you can have with your pants on...). If you don't have at least your Private license, I would suggest that as one of your first steps, so that you can "talk the talk". Only if you really get bitten hard by the bug do you have to go to the extent I have as a CFI...
Good luck with your search! If you are a pilot near Utah, email me for your next BFR! (if not, I can certainly help you with that private license!).
Keith
: Anyone know where I can find out more about becoming a licensed aviation insurance broker? Having a hard time finding info on training/licensing. Thank you very much.
: -David