International Transport Intermediaries Club (ITIC), the world's leading professional indemnity (PI) insurer for transport professionals, is increasing its focus on the aviation industry by launching a new "Aviation Rule Book", the rule book is the policy wording on which all policies for aviation assured's will now be based. As ITIC's aviation portfolio continues to grow, so does the need for a bespoke insurance solution tailored to meet the distinct demands of this dynamic sector.
ITIC’s Rule Book reflects the maritime nature of its original client base. However, ITIC is also able to insure aviation and aerospace professionals, and it has made great strides in the growth of its aviation portfolio in recent years. This growth has been supported by an appetite to insure a wide range of aviation risks. From the essential air charter brokers and aircraft managers of the general aviation industry to the aircraft lease managers that the leasing industry relies upon, all manner of aviation professionals can be insured.
“Our experience in the aviation sector has grown significantly, and with it, the necessity to tailor our services to fit the demands of this highly specialised field,” said Mr Mark Brattman, claims director at ITIC.
The Aviation Rule Book provides a comprehensive basis of cover for aviation members, ensuring their insurance coverage is relevant and customised to suit their operations. ITIC's proposal forms require applicants to confirm their approvals for critical aviation operations, such as managing airworthiness, aircraft operation, design, or training services. ITIC will not offer insurance coverage without these approvals, emphasising the importance of compliance with the web of statutory regulations and approvals that underpin the sector.
In addition to the new rule book, ITIC maintains strong affiliations with industry associations and memberships, reinforcing its commitment to the aviation sector. Annual reviews of the rule book will ensure that any necessary updates are incorporated in response to changes in the industry, offering clients peace of mind that their coverage remains current and effective.
ITIC’s insurance has been developed primarily to cover claims of negligence – errors or omissions. Cover can also extend to specialist areas such as debt collection, loss of commission income, cash in transit, and directors’ and officers’ insurance. ITIC’s wide coverage also includes unique discretionary insurance that could support claims not normally paid by other professional indemnity insurers.
To obtain a copy of the new Aviation Rule Book, please visit https://www.itic-insure.com.