Helvetia Specialty Lines CH & International said it will begin writing aviation insurance in October.
Plans call for Helvetia’s aviation team to offer worldwide insurance coverage for passenger liability, third-party liability and comprehensive cover.
Helvetia said it is concentrating on worldwide major accounts with a focus on airlines and aerospace. It will offer passenger liability, third-party liability and comprehensive cover with a maximum limit of $125 million.
The aviation team will be led by industry veteran Marc Weber, who has more than two decades in managerial positions at Converium, Glacier Group, Torus and StarStone, with considerable experience in aviation insurance. Weber will be assisted by Gregor Banzer and Stefan Koller.
The technology-driven aviation industry is a growth sector, said St. Gallen, Swizterland-based Helvetia in a statement. At the same time, it is expected that new materials, technologies and an increasing focus on sustainability will change the aviation industry.
Helvetia said it will react to these trends with customized insurance products and services. Based on a careful risk analysis, the aviation team will develop an aviation portfolio over the next few years, the company added.
Source: Helvetia Group
*This story ran previously in our sister publication Insurance Journal.