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June 2010      


Sent to you courtesy of:

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

   
  • President's Message


  • ABC Brokers Committee News


  • Legal Update: New Development on the Application of U.S. Law in Foreign Air Disaster Litigation


  • ABC 2010 Conference Announcement


  • The ABC's of Aviation Liability Webinar - Now Available Online!


  • As the dust settles companies count cost of volcanic cloud


  • Space weather warning issued by ASIC


  • Risk Management More Than Just Models, Swiss Re Says


  • Achieving a Balance Between Openness and Security in Universities, Hotels


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

    Apparently, Iceland has volcanoes…. This may not come as news, but the impact of Iceland’s volcanoes on European aviation came as a bit of a shock to everyone. The Aircraft Builders Council was no exception. The ABC Board of Trustees had planned to conduct its annual Spring Underwriting Meeting outside London on April 17-18. Due to the eruption, most American Board members were unable to cross the pond, and those already in London spent much of the following week trying to get home. Undaunted, the meeting still proceeded (via one lengthy trans-Atlantic conference call) on April 18. This was perhaps not how we wished to welcome our new Trustee, Matt Howald of Teleflex, Inc., but he, and all participants, embraced the turmoil with a positive attitude and good humor.


    ABC Brokers Committee News
    ABC Brokers Committee

    Whilst most areas of the aviation industry continue to suffer from unprecedented global financial pressures, the aviation insurance market through the first quarter of 2010 has remained remarkably stable; this despite poor airline underwriting results spanning the last three years and a theoretical increase in available capacity for the current year which has had little perceived effect on prevailing market conditions.


    Legal Update: New Development on the Application of U.S. Law in Foreign Air Disaster Litigation
    Alan Collier and Nick Weiss
    In aviation cases, it is no secret that plaintiffs’ (and their counsel’s) preferred choice of forum is the United States due to the comparatively high standards of compensation, absence of the “loser pays” rule, and the non liberal rules of discovery. To combat this practice, U.S. defendants routinely, and often successfully, use the legal concept of forum non conveniens (“FNC”) to dismiss action in the U.S. for filing in an alternative (and arguably more convenient) forum.

    ABC 2010 Conference Announcement
    Aircraft Builders Council, Inc.

    The 2010 Aircraft Builders Council Annual Conference will take place September 19-21 at the Vinoy Renaissance St. Petersburg Resort & Golf Club in St. Petersburg, Florida.


    The ABC's of Aviation Liability Webinar - Now Available Online!
    Aircraft Builders Council, Inc.

    On February 3, the Aircraft Builders Council, Inc. presented a webinar on the Aircraft Builders Council Insurance Program, entitled The ABC's of Aviation Liability. This webinar is now available online on ABC's website - simply click on the scrolling blue link on the homepage to access this webinar.


    More Industry News
    As the dust settles companies count cost of volcanic cloud
    Lloyd's
    The volcanic plume of ash that hung over northern Europe, turning it into an effective no-fly zone, and which is continuing to cause disruption, also cast a pall over many businesses. As they work out the bill from the unprecedented disruption, they must also assess whether that cost was increased because their contingency plans failed to respond during the transport chaos.

    Space weather warning issued by ASIC
    Lloyd's
    More variable and extreme weather patterns are not restricted to Earth - cosmic weather is getting worse as well. That’s to say, solar activity is increasing again after a long period of relative inactivity and is expected to peak around 2012.

    Risk Management More Than Just Models, Swiss Re Says
    National Underwriter Company
    Caroline McDonald
    While good governance, modeling and disclosure are vital to insurance risk management, the risk manager also has a pivotal role to play in creating a proactive and preemptive risk management culture, Swiss Re said.

    Achieving a Balance Between Openness and Security in Universities, Hotels
    Facilities Net
    Many organizations such as hospitals, public transportation providers, retail establishments, and colleges and universities operate in open environments. Even some of our nation's most secure facilities, such as airports and bio-safety laboratories, are mixed-use facilities with open access in public spaces and closed access in secure areas.