The Binder 49.2 - Summer 2024

VOL. 49 NO. 2 — summer 2024

PRESIDENT’S MESSAGE

TURNING THE PAGE DIVISION REPORTS WOMEN’S INITIATIVE SPOTLIGHT

NANCY GRATZER

2024 AIA CONFERENCE HIGHLIGHTS SAFETY REPORT

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table of contents

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turning the page

Information is Gold When Love Is in the Air

PRESIDENT’S MESSAGE

underwriters division

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2024 aia conference highlights

agent/broker division

Navigating Turbulence: Challenges Faced by Aviation Insurance Brokers in Today’s Industry

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industry keynote recap

Gary Churchill: Decisions, Underwriting and Production

attorney division

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International Perspectives in division leadership

safety report

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Almost Real: How Virtual Reality is Changing Aviation Training

women’s initiative spotlight

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Women in the Industry: nancy gratzer

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board of directors

claims division

service

EDITOR

KIM ROSENLOF Aeroink Incorporated

The ideas and opinions expressed by authors of articles published in The Binder are wholly their own and do not necessarily represent those of the Aviation Insurance Association.

The articles are not provided as legal advice.

www.aiaweb.org 3

Published by the Aviation Insurance Association 2365 Harrodsburg Road Suite A325 Lexington, KY 40504

PRESIDENT’S MESSAGE

turning the page

chris morin, managing Shareholder, Murray, Morin & Herman, P.A. aia president 2023–2025 It’s hard to believe that we are over halfway through 2024! Where has this year gone?

We’re now well into vacation season and before we know it, the holidays will be upon us and we’ll be ringing in 2025.

As the years have passed, there have been a lot of changes in what our members and attendees want from the AIA conference.

So many client meetings take place during our conference, companies host their own private events . . . and it seems more are added each year. We have attendees who would like the conference to be longer.

Others want it shortened.

Regardless, we know it’s getting harder to fit everything we all need to do in one day, one event, or even one conference — but we continue to try!

But before we completely move on, I’d like to share some thoughts on the AIA conference in New Orleans.

This most recent conference officially closed the door on what the AIA staff had affectionately referred to as our “COVID” hotels. Tucson and New Orleans were originally planned for 2020 and 2021, respectively, so we’ve now honored all those contracts. Fresh start from here!

If you completed the post-conference survey, we say “thank you!” as we review every response and read every comment to give it the careful consideration it deserves.

I have so much gratitude for all who supported the AIA and helped us make the NOLA conference such a success. From our event attendees, our educational speakers, and the many sponsors that help us keep our registration costs so low — a heartfelt THANK YOU!

Below are some of the great things to look forward to for the 2025 conference. See an overview of the schedule changes on page 7.

The Welcome Reception will take place at the Omni Orlando on one of their gorgeous lawn spaces, making it easier to reconnect at the start of the conference while enjoying the Florida spring weather.

And the Welcome Reception will actually be on the first night of conference.

Be sure to check out some of the conference photos on page 23–27 of this issue, but the full photo gallery is on the AIA website.

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PRESIDENT’S MESSAGE Last year, Queuing Up moved up in the conference schedule and comments are overwhelmingly supportive of the change.

We had 24 participating underwriters this year, so the normal hour-and-a-half was not long enough for the agents and brokers to rotate through. In Orlando, we’ll allow more time for Queuing Up by moving it to Friday.

As for location and ease of travel, survey feedback also reinforced that picking destinations with great airport access is important, as well as having plenty of things to do and see near the conference hotel or on property. A venue conducive to networking and reconnecting is vital. Orlando will undoubtedly be a popular destination for 2025, and airport access will be superb.

The AIA golf scramble will take place at the Omni and we are fortunate to have secured the most stunning of the two Omni golf courses. Our conference golfers will play the International Course, which is a coastal-links style course with hundreds of sand bunkers and water features. It’s supposed to be fun but very challenging, so start practicing now!

There were so many more ideas and suggestions in the survey, and the AIA is always trying to keep the conference fresh, so look for more news on any scheduling changes in the coming months. Any topic suggestions will be shared with the Education and Safety Committees to add to their pool of potential topics for conference or other AIA events.

To help guide the AIA through the year ahead, I’m grateful to be supported by a dedicated Executive Committee and Board. I am so thankful to have these officers continuing with me: Ian Wrigglesworth (Guy Carpenter), Vice President; Luke Uithoven (Kimmel Aviation Insurance), Secretary; and Nicole Wolfe Stout (Strawinski & Stout), Treasurer.

For those who attend Sunday’s continuing education, we know a solid eight hours of programming in one day is tough so we’re splitting the CE over two days.

We’ll offer two four-hour sessions, so you can opt for four or eight CEs, depending on your schedule.

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PRESIDENT’S MESSAGE Changes to the Board voted on by the AIA Board of Directors or at the Division meetings: David Hampson transitioned from Agents/Brokers Director to a Director-at-Large; Kristen Suarez moved from Director-Elect to the Director of the Agents/Brokers Division; and Jeff Sheets advanced from Director-Elect to the Director of Claims.

Finishing their terms on the Board: Immediate Past President, Greg Sterling, Chris Arnold, and David Gourgues. A special thanks to these three for their enthusiastic support on the Board for many years, and I anticipate their continued involvement.

To see the full Board, including those who are continuing terms or were re-elected, check out the Board page on the AIA website.

Please do not hesitate to contact any one of us with your suggestions, concerns, or ideas.

Elections by the AIA membership took place at the Attorney and Underwriter Division meetings. Mark Meyer from London and Meghan Griffin, CAIP secured the Director-Elect positions for those divisions, respectively. I’m looking forward to the energy and new ideas they will bring!

Although your Board of Directors and staff are already working on the 2025 conference, we have not lost sight of continuing to provide value and support to the aviation insurance industry throughout the year.

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PRESIDENT’S MESSAGE Between now and AIA 2025 in Orlando, we’ll host an Aviation Insurance Core Principles & Concepts Course, the AIA Open golf tournament outside Atlanta, two Introduction to Aviation Insurance Courses, a London Symposium and another Safety event.

As always, remember this is your AIA! If you have a talent, article idea, desire to serve, or wish to contribute in some way we’d love to hear from you. I look forward to seeing each of you at the next AIA event, and, in the meantime, I wish everyone a great summer!

So while 2024 is almost half over, your AIA is primed and on target to continue bringing you the value, events, and networking that make AIA so special. It’s a constant effort to be a little bit better tomorrow than we were yesterday, but it’s what I would humbly suggest puts us in a class of our own in terms of programming and garnering the tremendous support of our valued members.

Let’s all take a moment to reflect on the accomplishments in 2024 thus far and look forward to what’s still to come. I know I will.

Chris Morin is the managing Shareholder at Murray, Morin & Herman, P.A., with offices in Tampa and Miami, Florida. Chris is Board Certified in Aviation Law by the Florida Bar and has defended aviation matters for over two decades, regularly counseling local, regional and international clients in the defense of aviation accidents and disputed civil matters.

He has tried both civil and criminal cases, including numerous bench trials and jury trials. A licensed pilot, Chris has owned and operated several aircraft, the last being an A-36 Bonanza. He assumed the role of AIA President in May 2023.

You Asked, We Listened: Optimizing Your Attendee Experience After each conference we review your responses to our post-conference survey—thank you for taking the time to share your feedback with us. As we work to continue enhancing your attendee experience, we are excited to announce several schedule shifts for the 2025 AIA Annual Conference. Please note, the schedule changes (bolded in blue) below that may impact your travel schedule. We look forward to hosting you in Orlando, Florida April 25 - 28, 2025.

Friday, April 25

Saturday, April 26

Sunday, April 27

Monday, April 28

Continuing Legal Education Program

Sporting Clays Tournament

Breakfast and Lunch with Exhibitors

Breakfast with Exhibitors

Golf Tournament

General Session

Queuing Up at AIA

General Session Optional Activities

New Member/First-Timer Reception Welcome Reception

Continuing Insurance Education Sessions (4 Hours)

Committee Meetings Women’s Initiative Happy Hour

Continuing Insurance Education Sessions (4 Hours) Closing Party

Division Meetings

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agent/broker division

Navigating Turbulence: Challenges Faced by Aviation Insurance Brokers in Today’s Industry Kristen Suarez, Executive Manager, BWI Aviation Insurance Agency, Inc. AIA Director, Agent/Broker Division

The aviation insurance industry operates in a dynamic and complex environment characterized by evolving risks, regulatory requirements, and market conditions. Within this landscape, aviation insurance brokers play a crucial role in connecting clients with insurers and navigating the intricacies of aviation insurance policies.

However, despite our expertise and experience, brokers face myriad challenges that require adept navigation and innovative solutions to ensure success in today’s industry.

Moreover, brokers must navigate diverse client portfolios, each with unique risk profiles and coverage needs.

Balancing these factors while ensuring adequate coverage and competitive premiums poses a significant challenge for brokers in today’s industry.

Shifting Market Dynamics and Capacity Constraints As we all know, the aviation insurance market is subject to cyclical fluctuations influenced by factors such as catastrophic losses, regulatory changes, and economic conditions.

In recent years the market has experienced tightening capacity and rising premiums, particularly in sectors with poor loss experience or high exposure to emerging risks. Brokers must adapt to these shifting market dynamics, proactively managing client expectations and exploring alternative coverage options to secure favorable terms in a challenging environment.

building and maintaining strong client relationships Aviation insurance requires proactive engagement, brokers are tasked responsiveness, and with assessing and underwriting complex transparency, particularly in risks associated with aircraft operations, times of crisis or uncertainty.

Complex Risk Assessment and Underwriting

maintenance, and regulatory compliance. This requires a deep understanding of aviation safety standards, aircraft technology, and industry best practices.

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agent/broker division Emerging Risks and Technological Advancements

Client Education and Communication Effective communication and client education are essential components of successful brokerage in the aviation insurance industry. Brokers must distill complex insurance concepts into understandable terms for clients, empowering them to make informed decisions about coverage options and risk management strategies. Moreover,

Advancements in technology such as unmanned aerial vehicles (UAVs) and urban air mobility (UAM) present new risks and opportunities in the aviation insurance industry. Brokers must stay abreast of these emerging trends and collaborate with insurers to develop innovative solutions that address evolving risks

effectively. Additionally, the proliferation of cybersecurity threats poses a significant challenge for brokers, requiring robust risk management strategies and specialized coverage options to protect clients against digital vulnerabilities.

building and maintaining strong client relationships requires proactive engagement, responsiveness, and transparency, particularly in times of crisis or uncertainty.

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Talent Acquisition and Succession Planning

stay abreast of industry trends, share best practices, and identify new business opportunities.

As experienced professionals retire or transition out of the industry, talent acquisition and succession planning pose significant challenges for aviation insurance brokers. Recruiting and retaining skilled professionals with specialized expertise in aviation insurance requires strategic investment in training, mentorship programs, and career development opportunities. Moreover, succession planning is essential for ensuring continuity and sustainability in brokerage firms, particularly in a competitive market where industry knowledge and relationships are highly valued.

Invest in talent development: Prioritize professional development initiatives, mentorship programs, and succession planning to attract and retain top talent, cultivate industry expertise, and ensure continuity in brokerage firms.

Prioritize client-centricity: Focus on building strong client relationships, understanding their unique needs, and delivering tailored solutions that provide value and peace of mind in a rapidly evolving aviation landscape.

In conclusion, aviation insurance brokers face a myriad of challenges in today’s industry, from complex risk assessment to market dynamics and talent acquisition. By embracing innovation, fostering collaboration, investing in talent development, and prioritizing client-centricity, brokers can navigate these challenges effectively and position themselves for success in an ever-changing aviation insurance landscape.

Navigating the Future: Strategies for Success Despite the myriad challenges facing aviation insurance brokers in today’s industry, there are several strategies that can enhance resilience and drive success: Embrace innovation and technology: Leverage data analytics, digital platforms, and automation tools to streamline processes, enhance risk assessment capabilities, and deliver value-added services to clients.

Kristen Suarez has been serving the aviation industry for eight years as of May 2024. She is currently the executive manager of BWI Aviation Insurance Agency, Inc., and a proud AIA member since 2018. She currently serves as AIA’s Director of the Agent/Broker Division.

Foster collaboration and partnerships: Cultivate strategic relationships with insurers, industry associations, and regulatory bodies to

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attorney division

International Perspectives in division leadership Mark Meyer, Partner, HFW AIA Director-Elect, Attorney Division

I write this after seeing the England national football (soccer) team pull a rabbit out of the hat and defeat Slovakia at the Euro 2024 Championship. They waited until the last minute to take the game to extra time and then scored again to break the tie.

What excitement! A benchmark has been set and I will do what I can to make the year ahead exciting for our Attorney Division. I feel very privileged to take on the role of DirectorElect and look forward to working with Mike McGrory and the rest of the team on the education and social program for the next year.

The case raised many issues from an insurance perspective, particularly with underwriters at Lloyd’s. I have stayed involved with aviation ever since.

Currently I’m working on cases being heard in the UK High Court concerning Westernowned aircraft that have remained in Russia after the imposition of trade sanctions and the termination of the leases. They are complex and interesting cases, split between claims brought under Lessor Contingent policies and those under Operator policies, where the lessors are almost always named as an additional insured. Although the Operator policies are subject to Russian law and jurisdiction, the English High Court ruled earlier this year that it would accept jurisdiction to determine coverage for the claims brought by the lessors under these policies as the court did not consider a fair trial of the issues was possible in Russia. So, we have ended up in the quirky situation of the Lessor policies claims being heard prior to

As the first non-US based Director-Elect, I am conscious that not everyone will know me. Let me then tell you a bit about myself.

I have been practising Insurance law for more than 30 years. My first aviation case was for Birgenair, which tragically lost a Boeing 757 shortly after take-off from Puerto Plata, Dominican Republic in February 1996.

As the first non-USbased director-Elect, I am conscious that not everyone will know me.

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attorney division the claims under the Operator policies, even though the contingency under the Lessor policies is the exhaustion of all other available insurance. The first trial involving AerCap and three other claimants will begin in October 2024 and is expected to last three months.

Please feel free to communicate your thoughts and ideas for education topics. We are always interested in new ideas and new presenters.

Aviation is diverse and our collective experience provides greater knowledge and expertise in addressing the challenges we face.

We have begun preparation for the London conference on 29 October and this year expect to have an educational program to accompany the social gathering. At our annual conference this year, there was a presentation about the subscription nature of the London market and the differences in how business is placed compared to other insurance markets. You will get a flavour of the nuances of the London market by attending the London event, which will cover some London and Euro-centric topics. For example, the EU has proposed new regulations for aviation service providers that will involve a mandatory insurance requirement.

We hope to bring more of an international flavour to the topics we cover, including partnering with non-US-based aviation trade associations for some joint programming.

I hope to meet as many of you as possible in the coming year. Please feel free to reach out. Mike and I would be delighted to hear from you.

Lastly, a note of thanks to Mike for the support and encouragement he has provided in the build-up to my election. Thanks also to Chris Morin, Nicole Wolfe Stout and Mary Gratzer. You are a great team and I am delighted to be working with you.

At the 2024 AIA Conference in New Orleans, Mark Meyer was elected as Director-Elect of the Attorney Division. He will serve one year as Director-Elect before beginning his two-year term as Director of the Attorney Division.

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women’s initiative spotlight The AIA is pleased to provide this series featuring women in the aviation insurance industry. Led by AIA Board treasurer Nicole Wolfe Stout, interviewees will represent all facets of aviation insurance.

Women in the Industry: nancy gratzer Nicole Wolfe Stout, Partner, Strawinski & Stout, P.C. AIA treasurer

What did you dream of doing when you were young?

My husband and I wanted to travel, and we Name: Nancy Gratzer, CPCU, CAIP Well, I certainly didn’t decided that one of us Title: Southeast Aviation Practice dream of becoming an would try to work for an Leader (Retired) aviation insurance broker. airline to take advantage Company: Marsh McLennan As a fourth grader, I of the travel benefits.

Location: Atlanta, Georgia, USA envisioned becoming Unfortunately, the Years in the industry: 44 an archeologist — until airlines were not hiring I realized that this then, but in December career option would involve dirt, heat, and 1975, I applied for an assistant underwriter scorpions (ewww!). In a meeting with my position with Universal Aviation high school guidance Underwriters, an counselor, I expressed an aviation insurance interest in the legal field. company in Atlanta.

She connected me with I took the job, thinking a local attorney, and that having aviation I worked for him after insurance experience school and on Saturdays, on my resume might but eventually decided to lead to an opportunity pursue another with an airline. career path.

Fortunately, my husband was hired How did you get

by Delta Air Lines in started in the aviation insurance industry?

1977, where he stayed What was your first job? until his retirement in Like many others, I landed in aviation 2018, and I happily remained in the aviation insurance by accident (or good fortune, insurance field until my retirement in 2019. as it turned out).

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women’s initiative spotlight Did you have any mentors when you first started out?

a new hobby. I think this continual quest for knowledge, as well as my freakishly organized nature, served me well in my career.

No one succeeds on their own, and I consider myself so fortunate to have stood on the shoulders of many industry giants. My first mentor at Universal Aviation Underwriters was John Leigh, one of the initial members of the AIA (or the AIAI, as it was called back then).

After switching to the broking side, Jeff Zito taught me more about aviation insurance than any other person, and I’m happy to say that we are still great friends today. Jeff encouraged me to get my CPCU designation and to get involved in the AIA, not just as a member but as an active participant in the organization. I also had great support and encouragement from Corky Nason and Pat Costello, who felt that the AIA needed more women in leadership roles.

Who inspires you today and why?

I have always been intrigued by the first women of aviation such as Harriet Quimby, Bessie Coleman, Amelia Earhart, and Jackie Cochran, who all showed such courage and determination in pursuing their dreams.

I also had the privilege of knowing and working with former AIA member Gene Nora Jessen, who was a flight instructor, sales demo pilot, FBO owner, aviation insurance broker, and author.

Perhaps most notably, Gene Nora was one of the Mercury Thirteen, a private program run by a NASA physician in 1959-1960 that aimed to test and screen women for space flight.

Sadly, Gene Nora passed away on May 21, 2024, but her contributions to the aviation industry will not be forgotten. I will always remember what a kind and humble person she was, and what an inspiring career she had. (See page 18 for more about Gene Nora and the Mercury 13.)

What is the biggest factor that helped you be successful?

From my very first day in the aviation insurance industry, I always wanted to learn more. Even in retirement, I strive to learn something new daily — by reading, traveling to new places, or trying

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women’s initiative spotlight

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women’s initiative spotlight As a woman, what has been the most significant barrier or challenge you’ve encountered thus far in your career?

with the ability to juggle many projects and tasks without dropping the ball. These valuable “soft skills” often go unnoticed or underappreciated by upper management.

As an aviation insurance underwriter in the mid-1970s, it was such a male-dominated industry. The Aircraft Bluebook, which we used to check aircraft values for underwriting purposes, even contained pictures of bikiniclad women — I kid you not!

How do you balance work and life responsibilities?

As a retiree, I no longer have the issue of work/life balance! When I was at work, however, I gave it everything I had; when I was at home, I tried to do the same. I’m sure I didn’t get it right all the time, but my now-grown kids are productive members of society and are still speaking to me, so I will count that as a success. In my early career, opportunities for flexible work schedules were limited, and working from home was almost nonexistent. Flexibility is crucial to achieving a healthy balance between work and home in today’s fast-paced world.

As a broker, it was a slow process to win the confidence of the male chief pilots and risk managers I worked with. I’m happy to say that times certainly changed for the better during my career, and seeing a female aviation insurance broker or underwriter today is no longer a novelty.

Can you identify one or two “value-added” items unique to women that they bring to your business?

According to a February 7, 2023 Forbes article, including more women in leadership positions improves the economic results of large businesses. In addition, women improve profitability by minimizing the risk a firm takes on. Women are more likely to follow the rules and less likely to make decisions that put a company’s reputation on the line. They tend to avoid lawsuits, scandals, and other violations compared to their male counterparts.

What is one of your most memorable experiences in the industry so far?

Although I’m now happily retired, I daresay no one enjoyed working more than I did.

I enjoyed it all: being a trusted advisor to my clients, developing long-term relationships with colleagues, and even the often-grueling business travel.

Some of my favorite memories involve attending AIA conferences, my first being the 1984 conference in Nashville.

Another financial benefit of having women in leadership roles is that women are highly innovative and creative. They naturally gravitate toward mentorship and are overall more inclusive and empathetic than men.

In my opinion, women are better listeners and much better than men at multitasking,

Also, it was such an honor and privilege to be elected the first female president of the AIA in 1995, to receive the Pinnacle Award in 2013, and to be inducted into the Eagle Society in 2014.

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women’s initiative spotlight How do you see the roles of women in your business changing over the next 5–10 years?

We should continue to find ways to show that women are more than capable of taking the helm and leading the AIA and the aviation insurance industry into a new era of innovation and success.

According to The Insurance Information Institute, in 2023 women accounted for 59.4% of insurance workers, a higher rate than the 46.9% of women employed across the U.S.

As a leader, if you could give one piece of advice to a young woman starting her career what would it be?

With 56.9% of women involved in underwriting and 54.9% working as insurance agents, women comprise more than half of the underwriters, agents, and clerks.

I would advise them to always keep learning and to get involved in our industry!

The AIA is a great way to accomplish both objectives: the educational offerings are always outstanding, and there are countless opportunities to serve on committees or as a board member.

The number of women in the insurance industry has increased by 14% over the last five years. Although women still only comprise 22.5% of those in the C-suite, I believe this number will only increase as more businesses realize the unique skills and abilities that women bring to the table.

Nicole Wolfe Stout leads the AIA Women’s Initiative and interviews women in aviation for this series. She has served on the AIA Board of Directors in several capacities, including her current role as Treasurer on the AIA Executive Committee. Nicole is a partner at the law firm of Strawinski & Stout, P.C.

Do you have any suggestions on how the AIA can support women in our industry?

I believe the AIA has done a great job supporting women in our industry by providing opportunities for networking, mentoring, and education.

GENE NORA JESSEN Gene Nora “Janora” Jessen was an AIA member and former colleague of Nancy’s, but Gene Nora’s career in aviation had a most interesting start! Nancy only learned about Gene Nora’s amazing history when Nancy received a phone call one day from Gene Nora, suggesting she watch a story on 60 Minutes about the Mercury 13.

Read about Gene Nora

Mercury 13 on Netflix

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Gene Nora as Author

claims division

service

Jeff Sheets, Vice President, Regional Claims Manager, Applied Underwriters Aviation AIA Director, Claims Division Greetings, Claims Division membership. As your new board representative, I must say I am humbled to be part of an organization that continually looks for ways to add value to the development of insurance professionals. Before I get too far into this message, I want to thank David Gorgeous for his service to us all and for everything he did to help me prepare for the coming term.

While each of these questions is probably an essay on its own, I will try to summarize the overriding principles I followed in hopes of helping others begin to find their own answers or refocus their path in aviation insurance.

If a goal without a plan is a wish, then I certainly had a wish come true. When I started in claims, I was looking for a job. And though I certainly didn’t plan on aviation insurance when I graduated college, I found personal success. While you may have different aspirations, I believe remembering a few guiding principles will help you find your path.

I have found no shortage of ideas when talking within AIA. We all strive to advance the development of helpful content and programming. I truly hope that by the end of my term, many of you will also look to share in the experience of service to our AIA community. If you have any ideas you would like to share about improving the Claims Division services we provide, please feel free to reach out to me via email at jdsheets@auw.com.

There is one unique feature within aviation insurance claims: rarely does anyone leave.

We may change email addresses and phone numbers, but in general, people who get into this claims niche recognize the unique way everyone works together to get the job done.

Whether you lead or follow an account, we often end up working together to solve a problem. This is my first reminder. You never know who you will be working for, so treat everyone with respect.

And always say “please” and “thank you.”

When thinking about my term, I needed an agenda and began by asking myself three basic questions:

• What would I change about my career path if I had to do it over?

• What do I need to do my job better?

• Where do I want to be when my career in aviation insurance is finished?

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claims division

How we work together is noticed, and you will likely be discussed at some point in your aviation claims career. I have to remind myself to pause and consider my role in the process. I’ve learned the hard way to confirm authority, work plans, decide to waive something, subrogate . . . you name it.

I need to remember who has a stake in my work product. A high level of authority is a wonderful thing, but I need to protect the people who trust me.

succeed encourages personal growth and helps prevent a bad decision that doesn’t help anyone (or any company) even if we may be competitors.

In the future, I hope to engage a few of my consultant friends, and to look for ways to integrate training with resources to help claims professionals grow and be more efficient in their jobs. To that end, if there are any topics or ideas for resources you would like to share with me, please email me. If you are willing, we can work together to develop the idea or resource. We can all benefit from working together in our careers in aerospace claims.

Reminder number two is: the people who trust me are the ones who must answer for my decisions, so do what is needed to reward that trust. My reputation in the industry depends on it.

Jeff Sheets is vice president and claims manager with Applied Aviation. A private pilot, Jeff has been in the insurance industry since 2003 and he has spent the past 17 years in a management capacity. Jeff was elected as Director-Elect of the Claims Division in May 2023 and began his two-year term as Director of the Claims Division in May 2024.

The last point is to ask questions. I try to think about how to ask a question so that I don’t look as ignorant as I may be. Asking questions is the way we learn from each other, and I don’t hesitate to ask anyone for help. I’ve called and emailed many of you when looking for insight to solve problems.

Iron sharpens iron, so helping each other

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underwriters division

Information is Gold When Love Is in the Air

Peter Barnes, AVP/Underwriter, London Aviation Underwriters, and Kathleen Vogel Schwartz, AVP/Underwriter, London Aviation Underwriters This article presents a continuation of the theme from our last article, which was written from an underwriter’s perspective concerning how time is critical and limited. The ultimate goal of both articles is to promote unity between underwriters and brokers and have a little fun as colleagues in the brokerage community.

Time is of the essence and information is gold!

Moving on, we’d like to share an anecdote that is an example of inefficiency as the underwriter was forced to request additional information of a risk that had been submitted. This particular scenario has been dubbed, “Love Trouble Aloft.”

Yes, this is a true story. Names withheld for obvious reasons.

An underwriter received a submission concerning a typical Cessna 172 used for business and pleasure. The broker made sure to note an engine-out loss that had occurred several months earlier. A successful off-airport-landing had been made with light damage to the aircraft and no serious injuries to the two occupants. That was it, though. No explanation as to what had caused the engine to stop working, plus there were no comments concerning the incumbent carrier’s position on the loss and nothing from the FAA on the incident. The usual questions commenced from the underwriter to the broker along the lines of: what, where, when, how and why did this loss occur?

Before moving onto this piece, we would like to acknowledge the success of this year’s AIA convention in the exciting city of New Orleans. We all certainly enjoyed seeing one another again in person, and we appreciated the mix of guest speakers. Looking forward to seeing you all again next year in Orlando!

There’s also another acknowledgement: Meghan Griffin of W. Brown & Associates was elected as Director-Elect of the Underwriters Division. She will shadow the current division director, Jeff Sutton of London Aviation Underwriters, for the next year before taking over as director.

Congratulations and thank you, Meghan!

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underwriters division The broker’s reply to that email was a virtual shrug, and a basic response of: “I don’t know. Something happened and the engine failed.” Insert eyeroll.

immediately and not a day and a half later once all the relevant information was made known. Insurance is a contract of good faith, legally obliging all parties to act honestly and not mislead or withhold critical information from one another. Good underwriters will often get to the bottom of the story eventually, but greater transparency in sharing critical information would have made this exchange between broker and underwriter more efficient.

Instead of declining the risk immediately, the underwriter continued to press for the requested information. The broker passed the underwriter’s inquiries to the lead producer to get to the bottom of the story.

“Oh, something *did* happen,” said the lead producer, tantalizingly . . . stoking the drama.

Once again, the moral of this “Love Trouble Aloft” story is that time and receipt of full information are two of the most important items we all have to manage together. The better we get at managing both, the better the underwriter/broker relationships will get. Underwriters can also learn to exercise a bit more patience and time-management to better collaborate with brokers. Again, time is of the essence and information is gold!

It turned out that the two occupants of the aircraft, a young male pilot and his female passenger, became involved in a heated argument while aloft. This led to the woman removing the key from the aircraft’s ignition, turning off the battery, opening the large window on her right and tossing the key out the window into the slipstream. The male pilot immediately found he was flying a glider and used his excellent flight training (thank goodness) to find a suitable-enough area to glide to a safe landing. Whew! Talk about some serious love trouble. (Epilogue: The gliding couple, by the way, got married several months later. There’s no word whether insurance coverage was renewed by the incumbent carrier for that love-torn aircraft.)

Peter Barnes has been working in the aviation insurance industry for more than 35 years. He joined London Aviation Underwriters (LAU) in August 2020 and is an Assistant VP/ Underwriter operating the company’s East Coast branch office located in Frederick, Maryland.

Kathleen Vogel has been working in insurance for over 10 years, both as a broker and as an underwriter. She joined LAU in December 2019 and is an Assistant VP/Underwriter working out of LAU headquarters in Federal Way, Washington.

“Why did it take several emails to get to that information?” wondered the underwriter.

Had that information been presented initially, the risk would likely have been declined

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aia 2024 highlights

AIA in NOLA Thank you to the more than 640 attendees representing all facets of the aviation insurance industry, who joined us in New Orleans, Louisiana, for the 2024 AIA Annual Conference May 3–May 6.

This year’s conference featured four days of networking, continuing legal and insurance education, authentic Creole cuisine, and more. See highlights from AIA 2024 on the next few pages.

For a full photo gallery, visit the AIA website.

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aia 2024 highlights

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aia 2024 highlights

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aia 2024 highlights

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aia 2024 highlights

AIA Eagle Society

Certified Aviation Insurance Professional (CAIP) Designation

Each year a select group of aviation insurance professionals are nominated and inducted into the AIA’s prestigious Eagle Society. Thank You for your continued service to the AIA and the aviation insurance industry. Congratulations to this year’s class.

Congratulations to the eight AIA Members who achieved their CAIP designation this year: Jamie Bruno; Peter Burg, CPCU; Mary Coleman Ernst; Jonas Geesen; Shannon Hope; Brian Lauer; Tara Schultz; and James Van Meter.

Pictured L–R: Mitch Young; Brett Godfrey; Brandt Madsen; Cindy Hales, CAIP; Chris Morin (AIA President); Jim Strawinski; Paul O’Ryan; Jon Stern; and Bill Kingsley, CAIP.

Pictured L–R: Tim Bonnell Jr. (Education Committee Chair), Peter Burg, Jamie Bruno, and Shannon Hope.

Save the Date Mark your calendars to join us for the next AIA Annual Conference April 25–28, 2025 in Orlando.

Pinnacle Award Congratulations to Jon Doolittle, who received this year’s AIA Pinnacle Award. The AIA Pinnacle Award is the most prestigious award given by the Aviation Insurance Association.

Pictured L–R: Chris Morin (AIA President) and Jon Doolittle, CAIP.

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2024 Conference AVIATION INSURANCE ASSOCIATION MAY 3 - 6 NEW ORLEANS MAY 3 - 6 NEW ORLEANS

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conference keynote recap

Gary Churchill: Decisions, Underwriting and Production Kim Rosenlof, Editor, AIA Binder

Human Factors in Decision-Making

According to figures presented by Gary Churchill, president and COO of Old Republic Aerospace, during his keynote presentation at the 2024 AIA Conference, in 1984 a gallon of milk cost $1.35, a Ford Mustang cost $6,572, and the insurance premium on a 1967 Piper Cherokee cost $575.

Today the milk averages $4.31 per gallon, the Mustang has zoomed to $43,000, but the insurance premium on that same Cherokee is only $660.

Churchill began his presentation acknowledging that aviation is a dynamic industry that has “made incredible advances in safety and operations. Advanced avionics are available in all classes of aircraft and several loss factors are on the decline.”

Yet the complexity involved in evaluating aviation risks can lead to irrational and illogical decision making, especially if underwriting fundamentals are ignored.

While the consumer price index shows a cumulative price increase of more than 202 percent between 1984 and 2024, in many cases aviation insurance premiums have not kept up with inflation. Churchill examined several aspects of the decision-making process as it relates to aviation underwriting and described how the industry’s production methods struggle to meet both client demands and investors’ expectations, leading to years of losses or slim profits at best.

“As a decision’s importance and complexity increases, our decision-making skill goes down,” Churchill said. “We’re good at quoting single-engine aircraft but struggle with quoting large complex risk.

Often we underestimate the severity component when dealing with rare claims.”

As a decision’s importance and complexity increases, our decision-making skill goes down.

Once a decision has been implemented, humans often become “anchored” to that decision. Underwriters can be slow to react to new technologies such as composite materials, technically advanced

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conference keynote recap

aircraft or drones; they may also be slow to revise or re-evaluate risks on current accounts.

External clarity in underwriting involves communicating with brokers and other distribution partners about what kind of accounts we prefer. Communication allows underwriters to build partnerships that have the same goals.

“Once we’ve evaluated a risk, it’s really hard for us to change that perception of the risk event when we’re confronted with new information,” Churchill said. “to mitigate this, clients and underwriters should be encouraged to regularly reassess valuations and decisions regarding current information and changes in the risk landscape.”

Back to Basics — Underwriting Principles

Regarding specificity, the underwriting team should have a deep understanding of the risk factors that make an account better within a certain category class.

Underwriters in the same department must be consistent, able to explain the factors very clearly, and understand the rate change requirements required for profitability. Underwriters must look at lost cost trends, inflationary pressures as well as individual account or segment based loss rating.

“I always tell our underwriters to think like an economist.”

Since no two risks are exactly the same in aviation, underwriters must use solid underwriting principles — including internal clarity, external clarity, and specificity — to balance the lack of clear and easy choices.

“I always tell our underwriters to think like an economist – underwriters must make choices about their portfolios, brokers must decide which company to place their account with, and our clients must decide which product to buy and how much to pay.

In the end, these choices must result in a profit for the aviation insurers to maintain a marketplace that allows our clients to do risky things safely.”

Internal clarity in underwriting means clearly defining risk selection. “We should avoid ambiguity in our underwriting and appetite,” said Churchill. “Clarity and risk selection should be shared across your enterprises. We’re specialists. We must be clear about our choices and have great internal clarity of what we do.”

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conference keynote recap Lean Keys to Increasing Productivity

“The client experience for our more complex buyers starts to see waste creep in,” said Churchill. “As they move up in complexity and pay us more money, the experience gets a little worse – they’re filling out things by hand like in the old process. My concern is that if we don’t get this client experience right, our clients will just buy a boat and call it a day.”

Churchill noted that while U.S. productivity increases about 100 percent every 35 years, aviation insurance hasn’t realized a great shift in expense ratios since the 1970s. He suggested the industry adopt lean manufacturing concepts to help increase productivity.

“Lean manufacturing goal is highest quality at the lowest cost while eliminating waste,” Churchill said. “If we don’t adopt these principles in our industry, disruptors will enter and serve our clients. In underwriting, just-in-time means the right submission to the right underwriter at the right time. The quality assurance process should be built into the product without multiple checks required.”

In his positive conclusion, Churchill pointed to the industry’s commitment to excellence, integrity, and innovation. He felt that the use of innovation and technology will continue to improve the client experience and that data analytics, automation, and strategic partnerships would continue to meet clients’ needs while helping to grow the aviation insurance industry.

Churchill says the insurance industry has not prioritized productivity and expense ratios. While investments in automation have boosted labor productivity, overall cost ratios have not improved. Efficiency efforts must be customeroriented in strategy, creating value while reducing waste and improving productivity.

Kim Rosenlof is a freelance writer/ editor/photographer with more than 400 articles published in 25 different magazines. A private SEL and LTA pilot, she is currently restoring a 1961 Cessna 172B. Kim also serves as the editor of the AIA Binder.

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safety report

Almost Real: How Virtual Reality is Changing Aviation Training Douglas Carmody, Owner, Executive Flight Training

Virtual reality offers the student a fully immersive world that is created completely by a computer and does not incorporate any elements from the real world.

Think of it as being inside a video game, rather than playing a video game from a console.

Everything inside the game is created by the computer.

It is still possible to train pilots, mechanics, and line personnel in classrooms using passive learning methods. It just isn’t very effective. Results from a Carnegie Mellon University study have shown that engaging students through virtual reality-enhanced technologies resulted in improved memory retention when compared to traditional teaching methods. As virtual reality becomes the standard training protocol in the aviation classroom, it is important for those in the aviation insurance industry to understand this new technology.

There are three types of “reality” being introduced into the aviation training environment:

• Virtual reality (VR) • Augmented reality (AR) • Mixed reality (MR) Virtual Reality

The benefit of this type of system is that it creates an interactive training environment that mimics reality. This is particularly the case for pilot training where flight training devices (FTDs) and flight simulators use motion and visual systems to enhance the training environment for the crew. As technology advances, blended training will incorporate VR scenarios into the training syllabus.

engaging students through virtual reality-enhanced technologies resulted in improved memory retention.

Pilot Training

Virtual reality can offer a cost-effective and highly efficient solution for pilot training. Traditional flight simulators are expensive to maintain and operate, but VR goggles can replicate the same environment at a fraction of the cost.

One of the most transformative uses of VR is in the field of aviation, where VR goggles are revolutionizing pilot and maintenance training.

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safety report The goggles provide immersive, 360-degree experiences that allow trainee pilots to practice a wide range of scenarios from routine operations to emergency procedures.

This level of immersion helps hone the skills required for real-world flying, enhancing both safety and proficiency.

For example, a maintenance crew can use VR to simulate the disassembly of an engine, identify potential issues, and practice the repair process before performing it on the actual engine. This reduces downtime and the risk of errors during maintenance work.

Moreover, VR training programs can be customized for different types of aircraft, making it easier for pilots to transition between models. For instance, pilots trained on a Cessna Citation V can use VR to familiarize themselves with the controls and dynamics of a Citation Encore. This flexibility reduces the time and resources needed for additional training.

Additionally, VR can be used for remote assistance. Expert engineers can provide guidance to on-site technicians through VR, offering real-time advice and instructions. This collaborative approach ensures that even the most complex repairs can be managed efficiently, regardless of the physical location of the experts.

Maintenance Training

Challenges and Future Prospects

Virtual reality goggles are also proving invaluable in the maintenance and engineering sectors of aviation. Technicians and engineers can use VR to visualize and interact with complex aircraft systems.

This capability allows students to perform detailed inspections and troubleshooting tasks without physical access to the aircraft.

While the benefits of VR in aviation are clear, there are challenges to be addressed.

The initial cost of VR equipment and the development of specialized training programs can be significant. Additionally, ensuring the accuracy and realism of VR simulations is crucial to their effectiveness.

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safety report

visor or cockpit displays. This real-time data integration allows pilots to make informed decisions more quickly and accurately.

However, as technology continues to advance, these challenges are likely to diminish.

Looking ahead, the integration of VR with other emerging technologies such as AR and artificial intelligence (AI) could further enhance its applications in aviation. For example, combining VR with AI could create highly adaptive training programs that adjust to a pilot’s progress and learning style.

One significant application of AR in aviation training is the use of smart glasses or head-up displays (HUDs). These devices enable pilots to visualize complex flight maneuvers, emergency procedures, and instrument readings without diverting their attention from the actual flight path. For example, during a simulated engine failure, AR can highlight the relevant controls and guide the pilot through the necessary steps to address the issue, reinforcing their training and response time.

VR goggles are set to play a pivotal role in the future of aviation. From a training and maintenance standpoint, the potential applications of this technology are vast and varied. As VR technology continues to evolve, its impact on the aviation industry is likely to grow, leading to safer, more efficient, and more enjoyable flying experiences.

Augmented reality also facilitates collaborative training sessions where instructors and trainees can interact with the same augmented environment. This shared experience allows immediate feedback and correction, enhancing the learning process. Furthermore, AR can be used to simulate various weather conditions and emergency scenarios, providing pilots with a comprehensive understanding of how to handle diverse situations without the risks associated with real-life training.

Augmented Reality Augmented reality blends computergenerated elements with the real-world training environment. Overlaying digital information onto the real world, AR provides pilots with enhanced situational awareness and interactive learning environments by projecting critical flight information — such as altitude, speed, and navigation data — directly onto a pilot’s

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safety report Mixed Reality

use this data to tailor training programs to individual needs, ensuring that each pilot receives personalized and effective instruction.

Mixed reality (MR) lies somewhere in between AR and VR. It adds overlays and real-world objects into a virtually-rendered world. Mixed reality has been used in specialized training such as helicopter longline and sling operations, air-to-air refueling and formation flying.

The integration of AR and VR in aviation training represents a significant leap forward in the industry. These technologies offer immersive, cost-effective, and highly effective training solutions that enhance pilot proficiency and safety.

Integrating AR and VR for Enhanced Training The combination of AR and VR technologies can create a holistic training ecosystem that maximizes the benefits of both approaches. For example, a pilot might use AR for real-time guidance and situational awareness during initial training phases, then transition to VR for in-depth practice and scenario-based learning.

As AR and VR continue to evolve, their applications in aviation training will undoubtedly expand, setting new standards for how pilots and other aviation personnel are trained. The possibilities of MR solutions are limitless. The only uncertainty is how smoothly, and quickly, developers will integrate these capabilities into devices that can be incorporated into training scenarios on a daily basis.

This integrated approach ensures a wellrounded training experience, covering both theoretical knowledge and practical skills.

Moreover, the data generated from AR and VR training sessions can be analyzed to identify areas for improvement and track a pilot’s progress over time. Instructors can

Doug Carmody is the owner of Executive Flight Training. He’s a retired airline captain and currently serves as a FAA examiner on the Citation 500, 510, 525 and 560XL.

Photo credit: Bombardier

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Board of Directors President Christopher S. Morin

Director, Underwriter Division Jeffrey t. Sutton

Vice President Ian Wrigglesworth

Director-Elect, Underwriter Division Meghan Griffin

Murray, Morin & Herman, PA Tampa, FL cmorin@mmhlaw.com

London Aviation Underwriters, Inc. Federal Way, WA jtsutton@londonaviation.net

Guy Carpenter London, United Kingdom ian.wrigglesworth@guycarp.com

W. Brown & Associates Alpharetta, GA megriffin@wbais.com

Secretary Luke Uithoven

International Director Andy Trundle

Kimmel Aviation Insurance Agency, Inc. Greenwood, MS luke@kimmelinsurance.com

Starr Aviation London, United Kingdom andy.trundle@starrcompanies.com

Treasurer Nicole Wolfe Stout

Director-at-Large wes collier

Strawinski & Stout, P.C. Atlanta, GA nws@strawlaw.com

Old Republic Aerospace Kennesaw, GA wcollier@ORaero.com

Director, Agent/Broker Division Kristen Suarez

Director-at-Large david hampson

BWI Aviation Insurance Agency, Inc. Canyon Lake, CA kristen.suarez@bwifly.com

Schrager Hampson Aviation Insurance Agency Bedford, MA david@planeinsurance.com

Director, Attorney Division Michael McGrory

International Director-at-Large David Watts

Amundsen Davis, LLC Chicago, IL mmcgrory@amundsendavislaw.com

Old Republic Canada Ontario, Canada dwatts@ORaero.com

Director-elect, attorney Division Mark Meyer

AIA General Counsel Bob Williams

HFW London, United Kingdom mark.meyer@hfw.com

Victor Rane PLC Pittsburgh, PA rwilliams@victorrane.com

Director, Claims Division Jeff Sheets

Executive Director Mary Gratzer

Applied Underwriters Aviation Los Angeles, CA jdsheets@auw.com

Aviation Insurance Association Lexington, KY mary.gratzer@aiaweb.org

Director, Reinsurance Division Raffaella Basile

Swiss Reinsurance Company Ltd Zurich, Switzerland raffaella_basile@swissre.com

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Aviation insurance glossary

Glossary of Common Aviation and Insurance Acronyms AIA — Aviation Insurance Association

GHSP — Ground Handling Service Providers

AOPA — Aircraft Owners and Pilots Association

HUD — Heads Up Display

ASAP — Aviation Safety Action Program (FAA)

IATA — International Air Transport Association

ASIAS — Aviation Safety Information Analysis and Sharing system (FAA)

IBAC — International Business Aviation Council

ASRS — Aviation Safety Reporting System (FAA)

ICAO — International Civil Aviation Organization

CASA — Civil Aviation Safety Authority (Australia)

IFR — Instrument Flight Rules IMC — Instrument Meteorological Conditions

CAAC — Civil Aviation Administration of China

IS-BAO — International Standard for Business Aircraft Operations

COPA — Cirrus Owners and Pilots Association EAA — Experimental Aircraft Association

IS-BAH — International Standard for Business Aircraft Handling

EASA — European Union Aviation Safety Agency

MRO — Maintenance Repair Organization

E6B — A type of manual or electronic flight computer

NBAA — National Business Aviation Association

ESG — Environmental, Social, and Governance

NTSB — National Transportation Safety Board (U.S.)

EVTOL — Electric Vertical Takeoff and Landing Vehicle

P&C — Property and Casualty SMS — Safety Management System

FAA — Federal Aviation Administration (U.S.)

UAM — Urban Air Mobility UAV — Unmanned Aerial Vehicle (also known as a drone)

FBO — Fixed base operator (service station for aircraft and pilots)

VFR — Visual Flight Rules

FDM/FOQA — Flight Data Monitoring / Flight Operations Quality Assurance

VR — Virtual Reality

GA — General Aviation

WAI — Women in Aviation International

GAMA — General Aviation Manufacturers Association

This is an abridged list of aviation insurance terms that appear in current and previous editions of the AIA’s The Binder.

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