The ABC Board of Trustees held its annual Spring Underwriting Meeting April 24-26. During the meeting, the Board re-elected its officers for the 2009-10 term: President – David McClain (PPG Industries), Vice President – Michael Gurrieri (Sequa Corporation), Treasurer – Susan Aselage (Sabreliner Corporation), and Secretary – David Johnson (Eaton Corporation). The Board also recognized the remarkable career of Tony Medniuk, Chief Executive Officer of Global Aerospace, as he announced his pending retirement this June. Tony has made an immeasurable contribution to the ABC, seeing it through the 9/11 aftermath and very difficult market conditions. The ABC simply would not enjoy its current strength and success were it not for his efforts and lead role. 

The prevailing economic environment has caused aviation practitioners to review their book of business as their capital providers look only to invest in sectors of the insurance industry that can provide sustainable and worthwhile profits. The aerospace products market however, has to date experienced less severe underwriting terms. Suppliers to the prime manufacturers have in general seen flatter market conditions - provided that they have a good loss record - and in some cases even a small decrease. When markets have hardened previously the products market has tended to lag behind the airline account and it would therefore not be surprising to see the situation change later in the year which could impact further as the recession begins to affect the sub-contractors and their sales in some areas begin to fall away.

The 2009 Aircraft Builders Council Annual Conference will take place September 20-22 at The Renaissance Esmeralda Resort in Indian Wells, CA. Click on "read more" below to view an article that outlines information about scheduled speakers, hotel accommodations, registration information and more!