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June 2011      


Sent to you courtesy of:

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

   
  • President's Message


  • ABC Brokers Committee News


  • Legal Update: Unmasking the Ambiguity of the Death on the High Seas Act


  • ABC 2011 Conference Announcement


  • The Complex World of Aircraft Products Liability


  • Mother Nature inflicts damage worth $218bn in 2010


  • Observers See Harder Market After String of Disasters


  • Don't Leave Home Without It


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    ABC News
    President's Message
    David H. McClain, ABC President

    After narrowly avoiding the Royal Wedding and yet another Icelandic volcano, the ABC Board of Trustees conducted its annual Spring Underwriting Meeting outside London on April 16-17. The Board elected its new slate of officers for the 2011-2012 term: President – David McClain (PPG Industries); Vice President, Administration – Michael Gurrieri (Sequa Corporation); Vice President, Marketing – Rick Roberts (Ensign-Bickford); Treasurer – Susan Aselage (Sabreliner Corporation); and Secretary – Rick Broderick (Harris Corporation).


    ABC Brokers Committee News
    David Sales, ABC Brokers Committee

    Soft market conditions have prevailed in the Aerospace market now for the best part of 5 years. For the most part, the class is perceived as being desirable by the capital providers and consequently there is, at present, overcapacity. The only exceptions are those entities with adverse loss experience and those accounts with a general aviation exposure. Here the capacity is still limited.


    Legal Update: Unmasking the Ambiguity of the Death on the High Seas Act
    Darrell M. Padgette & Landon R. Derentz of Fitzpatrick & Hunt, Tucker, Collier, Pagano, Aubert, LLP
    The Death on the High Seas Act (“DOHSA”) provides an exclusive federal remedy for deaths that occur “on the high seas beyond 3 nautical miles from the shore of the United States." Due to its potential impact on the recovery of damages and preemption of state laws, litigation involving maritime aviation accidents is often embroiled with disputes over the statutes’ applicability. During the past decade, litigation regarding DOHSA has frequently involved the interpretation of two key phrases—the meaning of “high seas” and the meaning of “commercial aviation.” Where some clarity was recently reached regarding the meaning of “high seas,” “commercial aviation” will likely continue to generate a significant amount of legal challenges into the near future as no clear definition prevails.

    ABC 2011 Conference Announcement
    Aircraft Builders Council, Inc.

    The 2011 Aircraft Builders Council Annual Conference will take place September 18-20 at the InterContinental Boston in Boston, Massachusetts.


    More Industry News
    The Complex World of Aircraft Products Liability
    Risk Management Magazine
    Michael Calhoun, Garrett Fitzpatrick and Richard J. Roberts
    Perched in seat 34E with the in-flight magazine crossword puzzle, Sudoku and Mensa quiz long scribbled over, you plug your headphones into the airplane's audio system to help drown out the world around you and get some rest.

    Mother Nature inflicts damage worth $218bn in 2010
    Lloyd's of London

    A string of natural disasters wreaked havoc across the world last year, costing the global economy $218 billion – more than three times the figure in 2009.

    2010 saw four major earthquakes, vast floods across Asia, tornadoes, wind and hailstorms, heatwaves and wildfires as well as winter ice and snowstorms. The total bill to the global insurance industry from these catastrophes reached over $43 billion – 60% more than in the previous year, according to a study published by Swiss Re.


    Observers See Harder Market After String of Disasters
    Advisen
    In the aftermath of recent catastrophes in Australia and New Zealand, the earthquake and tsunami that have devastated Japan may begin to push up property/casualty premiums, according to industry observers.

    Don't Leave Home Without It
    Benefits Pro
    Tunisia, Egypt, Libya. Political unrest has swept through parts of North Africa and the Middle East in recent months, shaking political regimes and stoking an already volatile environment that’s increased the risk of travel in that region.