Insurance in Business Aviation Thursday 25 th April 2013 London, UK Hosted & Media Partners
AGENDA Thursday 25 th April 2013 9.00 Registration and Networking Coffee 9.30 Opening Remarks 9.40 Overview of insurance language and practices in aviation part 1: The insurance team and policy basics - Role of insurer, broker, lawyer and loss adjuster - The Lloyds insurance market and the international market - Insurance, reinsurance, hull and liability insurance, legal liability to third parties and to passengers - Agreed Value versus market value what is the difference in finance terms? - Sole loss payees and additional insureds - The difference between a certificate of insurance and the underlying policy - Fleet policies versus single aircraft policies 10.10 Overview of insurance practices Part 2: The Risks - War, hijacking and other perils exemptions and exclusions - Denial of coverage breach of sanctions and regulations, non-payment of premiums, illegal public charter - Jurisdictional risk - Breach of warranty and its effects - Negligent entrustment 10:40 Networking Coffee Break 11:10 Panel Discussion Expert underwriters, brokers and lawyer will be invited to take part in a panel discussion to debate issues affecting the finance industry such as - AVN 67B what does it really mean and does it really work in practice? - Do assignments of insurance protect the financiers interests? How do they work in practice?
- EU regulation on third party liability limits does the regulation need to be reviewed in the context of recent claims? - How safe are the insurance and reinsurance markets? Jerry Flaxman, Jerry Flaxman Consulting Anthony P. McCarthy, Executive Director, Willis Elizabeth Holton, Consultant, IATA 12:40 Networking Lunch Break 14:00 Aviation insurance in practice workshop: Case-study based on a runway overrun causing substantial aircraft damage. Practical considerations from lessor/financier perspective including - Residual value issues - Rent obligations during repair period - Lessons learned for the financier/lessor John Bayley, Director of Claims, UK, Airclaims Peter Bull, Managing Director, Horizon Aerospace 15:30 Concluding Remarks SPEAKERS John Bayley, Director of Claims, UK, Airclaims John Bayley joined Airclaims in 1998 as an aviation surveyor. He was promoted to Senior Surveyor in 2003, Associate Director in 2008 and Director of Claims (UK) in 2012. In addition to supporting the management of the London Claims team, John actively handles aviation losses around the world. His career has included work with CFM International as a Programme Manager, a stint with Snecma, where he became fluent in spoken French, and senior airline positions. John holds European Aviation Safety Agency (EASA) aircraft maintenance licenses (for airframes and engines) and is a member of the CII. He is also an experienced aircraft engineer and qualified private pilot. Peter Bull, Managing Director, Horizon Aerospace Peter is Managing Director of Horizon Aerospace which provides specialists from industry to support those involved in aviation commercial disputes, litigation and insurance claims. This ranges from independent assessments of quantum, to facilitated meetings and mediation through to acting as a Part 35 Expert Witness. They also use their experience to help clients identify, assess and manage those risks that can lead to disagreements and claims arising in the first place. Peter was previously with the Airclaims Group where he was an Executive Director on both the Airclaims Limited and Airclaims Group boards. Initially joining as an Aviation Loss Adjuster he became responsible for the leadership of the risk and asset management business
worldwide. He led and oversaw a broad range of activities encompassing commercial due diligence, aircraft acquisitions, transitions and disposals; valuations, portfolio asset management and various aircraft repossessions from single corporate to multiple wide-body aircraft. Peter joined Airclaims from Willis Global Aviation where he spent 5 years as Director of Risk Consulting, supporting clients in a wide range of functions. These ranged from strategic and operational risk assessments, insurance claims reviews, due diligence studies and contract negotiation through to support during major commercial disputes. He was originally from industry and worked for 5 different airlines from small start-ups to large international operators. He held a range of senior positions including Duty Engineer, Aircraft Leasing Coordinator for an Asian Flag Carrier and Production Group Leader at British Airways flagship Boeing 747 maintenance facility. Peter remains an EASA, multi-licenced, multi-type rated aircraft engineer on both helicopters and fixed wing aircraft and was a qualified private pilot for many years. He has an MBA sponsored by British Airways and a second Masters in Air Transport Management from Cranfield University. He is also a Fellow of the Royal Aeronautical Society, a Fellow of the Institute of Directors and a Fellow of the Chartered Management Institute. David advises on all aspects of financing, sales and purchases and leasing for commercial and private aircraft. He also advises on commercial law and corporate law matters. Experience: Acting for lenders and borrowers in various transactions involving financing for the acquisition of aircraft and the payment of pre-delivery payments. Acting for aircraft leasing company in the unwinding of a German leveraged lease structure and the simultaneous refinancing of existing debt. Acting for lenders in various aircraft and engine sublease transactions, lease terminations and aircraft purchase options. Acting for buyers and sellers of aircraft, mainly in the corporate jet market. Other experience gained in real estate finance, yacht finance and the finance and leasing of rolling stock. Jerry Flaxman, Jerry Flaxman Consulting Jerry Flaxman has over 30 years experience in the Aviation insurance sector with prior experience working as a light aircraft engineer for seven years. The eighteen years with Willis as Claims Director, Client Services Director and Managing Director of the Space Division give him a clear perspective of the broker role. Jerry left the broking side in 2000 to join Holman Fenwick & Willan, a major City of London law firm, to develop their Aerospace capability and three years later was invited to join Allianz Aviation as Senior Claims Manager for the London operation. In 2006 Jerry joined QBE as part of the senior management team to create a new Lloyd s Aviation Syndicate, 5555, as Claims and Business Development Manager. Jerry is now Managing Director of Jerry Flaxman Consulting Limited, working as an independent, specialist advisor on aviation and space insurance related matters. Jerry is also a Fellow of the Royal Aeronautical Society. Vanessa advises clients on airline, product liability, insurance, insurance regulatory and commercial litigation and arbitration, in the UK and in many overseas jurisdictions. Her experience includes the following:
Major loss handling, disaster planning and management issues: including the GOL mid-air collision in Brazil and the Helios Airways accident in Greece (including criminalisation aspects) and has also represented aviation clients before inquiries and Inquests, including a major Parliamentary inquiry into the total loss of a military aircraft and 14 crew members. Product liability: representing manufacturers and also subrogated product liability claims on behalf of insurers and airlines. General commercial litigation/arbitration: representing airlines, manufacturers and maintenance providers in relation to contractual disputes. Insurance and reinsurance coverage disputes. Financial Insurance and travel regulatory matters. Space liability, including private spaceflight. Satellite insurance: represented insurers and reinsurers on many of the major satellite insurance cases. Career: Joined Gates and Partners in October 2006 becoming a Partner in May 2007. Worked at Barlow Lyde & Gilbert from 1993 to 2006, qualifying as a solicitor in 1995 and working with both the Reinsurance and International Risk Team and Aerospace Team (from 1997). Financial Services Authority Enforcement department on 9 month secondment from Barlow Lyde and Gilbert 2005 2006. SPONSORS Gates and Partners Gates and Partners is a law firm with offices in London, Dubai, Paris, Brussels and Singapore. We strive to be the law firm of choice for the global aviation industry. The firm is young and dynamic and brings together a team of specialised lawyers who have worked in house and in private practice across the aerospace industry. Our clients include airlines (from start-ups to major international carriers), insurers, travel and tour operators, maintenance organisations, product manufacturers, private individuals, aircraft leasing companies and banks. Airclaims Arclaims, a part of McLarens Young International, is the world s leading provider of aviation asset, risk and claims management services. The company has been serving the global aviation community for nearly 50 years, offering a trusted and ever evolving range of services from loss adjusting to technical services and risk reviews to meet the diverse needs of aircraft owners, operators, lessors, financiers and insurers. Through a world-wide network of offices Airclaims provides a local presence, global reach and rapid response to clients. With offices and contacts on every continent of the world (130 permanent professional staff, 19 subsidiary offices, 17 representative offices, in 25 countries), the company is well positioned to serve the aviation industry wherever the need arises. To learn more about Airclaims, their broad range of specialist aviation services and their extensive international network of offices and partners please visit www.airclaims.com. Please direct any further enquiries to Doug Horne, +44 (0)20 8897 1066, info@airclaims.com