in this issue

What Happens When You Report A Claim

Phoenix Increases Underwriting Capacity to Meet European Union Requirements

Are You In Compliance?

Elected to AIA Board of Directors

What Happens When You Report A Claim

At the end of an afternoon flight in clear skies imagine your insured coming in to land at his home base airport. After being cleared for landing and just as he makes contact with the runway, the gear on his Piper Navajo collapses beneath him. Thanks to good piloting skills he is able to bring the aircraft to a halt and climb out to inspect the damage. As a result of the impact he finds damage to both propellers and belly skin of the plane. Once he gets the aircraft secured he contacts you, the broker, to report the damage. Have you ever wondered what happens next?

When our adjusters receive a new loss we take action immediately. Once our office has verified that the claim is for one of our insureds, we order a copy of the policy from our Underwriters. We then verify that the incident occurred within the policy dates and that the appropriate coverage for the incident (hull in- motion or not-in-motion, liability, etc.) is available. We contact the insured immediately and establish the claim in our system. Typically Phoenix contacts the insured both by telephone and with a follow up letter requesting documentation for the aircraft and pilot. We also include a standard "Pilot-Operator Aircraft Occurrence Report" to be filled out by the pilot to get his synopsis of what happened.

We then travel to where the aircraft is located to make an on site inspection and to meet with the mechanic to discuss the most efficient method of repair. All of our adjusters make every effort possible to meet with our insured in the claims handling process as they feel it is important to let them know we will do everything possible to handle their claim quickly and efficiently. MORE

Please visit our our new web site at pamav.com. We have a new look which identifies us as part of the Old Republic organization. There are links to Old Republic Insurance Company as well as their financial information. There is information about Phoenix Aviation, forms for download and a new agency / broker resource page. We post important and relevant insurance regulatory information and state bulletins that may affect you.

·  Phoenix Increases Underwriting Capacity to Meet European Union Requirements

As of June 1st, Phoenix can quote liability limits of up to $150,000,000., which is a 50% increase over our previous maximum limit. The principal factor driving the decision to offer these higher limits was the need to offer a competitive product to our customers that need this amount of coverage because of European Union requirements.

Coverage applies to aircraft third party, passenger, cargo and third party war, terrorism and allied perils liability meeting all EU requirements. As with the previous $100,000,000., the Old Republic Insurance Company underwrites the coverage.

Phoenix Aviation Managers, Inc. is a wholly owned subsidiary Old Republic International Corporation, which ranks among the 50 largest insurance organizations in the nation. Old Republic Insurance Company maintains an A+ rating from AM Best.

Contact your local Phoenix branch for more information.

·  Are You In Compliance?

Agent licensing continues to be an issue for many agencies. More and more states are adopting the National Association of Insurance Commissioners producers licensing model. You may review this act in its entirety on our web site which is linked to this article. It is important that your employees responsible for licensing be familiar with this document. Failure to comply can lead to unwanted fines, penalties, and worse.

Occasionally, state insurance departments will review our records to check that the producer has the proper licensing. In the case of a non-resident agent, the business entity as well as the producer must be licensed in the majority of states. In the licensing model, a producer is defined as an individual or a business entity. A business entity acting as an insurance producer is required to obtain an insurance producer license. Also, the business entity must designate a licensed producer responsible for the business entity's compliance with the laws, rules and regulations of that state.

If your agency is involved in selling insurance in other states, it is important that you review the licensing regulations in those states. Our Compliance Coordinator Tamara Aiken or her assistant Chrissie Boone is available to assist you with your licensing issues. This is such an important topic; we have established a dedicated email address at agentlicensing@pamav.com to help you. We are taking the confusion out of agency licensing.

NAIC Producers Licensing Model

·  Roger Ridings Elected to AIA Board of Directors

At the closing of the AIA Convention in  Nashville last April, it was announced that Roger Ridings , EVP of Phoenix Aviation Managers was elected as the new AIA Director of the Underwriters Division. He succeeds Will Lovett of AIG who stepped down early due to his promotion to Sr. VP and Chief Underwriting Officer.