May 2012      


Sent to you courtesy of:

Aircraft Builders Council, Inc.
(952) 928-4662
info@aircraftbuilders.com

   
  • President's Message


  • ABC Brokers Committee News


  • Legal Update: Government Contractor Defense Solidified in Ninth Circuit


  • ABC 2012 Conference Announcement


  • Calling All Brokers!


  • Risk Management Makeover


  • That Particular Part: What Does It Mean?


  • Solvency II: What It Means in Europe and U.S. Today


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    ABC News
    President's Message
    Richard Roberts, ABC President

    On a perfect weekend the last day of March and April Fools' Day, the ABC Board of Trustees conducted its annual Spring Underwriting Meeting outside London. The Board elected its new slate of officers for April 2012 to 2013: President Rick Roberts, Ensign-Bickford Industries, Inc.; Vice President Rick Broderick, Harris Corporation; Secretary Rosalie Palazzolo, Dover Corporation; and Treasurer Susan Aselage, Sabreliner Corporation.


    ABC Brokers Committee News
    David Binks, ABC Brokers Committee

    Firstly, we would like to thank David McClain for his excellent Presidency over the past four years, during which time there were some difficult issues that had to be navigated and which were skillfully handled by David, the Board of Trustees and those involved with the ABC.


    Legal Update: Government Contractor Defense Solidified in Ninth Circuit
    Alan H. Collier and Mark R. Irvine, Fitzpatrick & Hunt, Tucker, Collier, Pagano, Aubert, LLP

    A recent appellate opinion in Getz v. The Boeing Co., 654 F.3d 852 (9th Cir. 2011) clarifies application of the government contractor defense in the Ninth Circuit. The case arose from the crash of a U.S. Army Special Operations MH-47E Chinook helicopter in Afghanistan, after a mission to capture or kill an Al-Queda target was cancelled. One of the helicopter’s twin engines shut down while returning to base. The helicopter crashed, killing eight servicemen and injuring fourteen. Plaintiffs brought a product liability lawsuit in California against helicopter manufacturer, Boeing; engine manufacturer, Honeywell; and the manufacturer of the engine control system, Goodrich Pump & Engine Control Systems, Inc., which was represented by Fitzpatrick & Hunt.


    ABC 2012 Conference Announcement
    Aircraft Builders Council, Inc.

    The 2012 Aircraft Builders Council Annual Conference will take place September 23-25 at The Ritz-Carlton, Naples, in Naples, Florida.

    Captain Jim Graham of Delta Airlines is one of the distinguished speakers currently in the line-up, and his presentation is entitled The 10 Questions You Always Wanted to Ask the Chief Pilot of the World’s Largest Pilot Group. Also on the agenda is Maxim Salomon of Airbus (presenting IT Security in the Aircraft Environment), an informative legal presentation by Fitzpatrick & Hunt, Tucker, Collier, Pagano, Aubert, LLP, and How to Avoid Being the Last One Standing in a Product Liability Lawsuit - a presentation by ABC representatives that was recently featured at the 2012 RIMS conference.


    Calling All Brokers!
    Aircraft Builders Council, Inc.

    CALLING ALL BROKERS - ABC is seeking your feedback on benefits of the ABC program.


    More Industry News
    Risk Management Makeover
    Risk Management Magazine
    It's little wonder risk managers are accustomed to remaining behind the scenes. One need only look to Congress grilling Enron's former risk manager about his role -- or lack thereof -- in the company's out-of-control corruption to see that the spotlight can quickly become uncomfortable when it is pointed at risk management.

    That Particular Part: What Does It Mean?
    FC&S
    This article offers an explanation of the term "that particular part" in order to help insureds and insurers understand it, especially since the phrase is a key part of an exclusion that affects coverage for property damage under the commercial general liability (CGL) form.

    Solvency II: What It Means in Europe and U.S. Today
    Property Casualty 360
    Solvency II is an ongoing European initiative to develop an asset risk-focused set of regulatory capital requirements and hold insurers to a higher bar with new capital standards on riskier assets. Its predecessor, Solvency I, was a simple factor-based model. Solvency II has been underway since the adoption of Solvency I back in 2002.