To keep pace with the insurance needs of the world’s largest personal & business (P&B) aviation market, XL Catlin has adopted a new online platform – VB Bind Speed – and joined Aero Quote’s network to quickly quote, bind and instantly deliver a newly enhanced P&B aircraft insurance policy in the US. The system’s features include auto-generation of quotes, invoices and full policy documents upon binding in PDF format.
Airports in the US are home to more than 117,000 active P&B aircraft, per General Aviation Manufacturers Association (GAMA) statistics, flying over 9 million flight hours annually.
“Using our new VB Bind Speed platform, we’re boosting our own underwriting velocity to protect the interests and assets of this diverse market,” said Eric Donofrio, North America regional manager of XL Catlin’s aviation insurance business. “VB Bind Speed provides our aviation brokers convenient online access to P&B aircraft insurance quotes, and then binds coverage for instant delivery of policies to eligible accounts.”
XL Catlin’s new aviation insurance platform is available through AeroQuote or directly from XL Catlin’s broker portal. For access to VB Bind Speed, please contact your local XL Catlin Aviation underwriter or send an email to: email@example.com.
“Our aviation brokers and clients will definitely enjoy the ease of this platform,” added Mr. Donofrio. “Even more so, they will enjoy the significantly enhanced coverage, specifically designed to address the liability and loss exposures our P&B aviation clients find themselves facing.”
XL Catlin’s P&B policy coverage enhancements include:
• Extra expense for renting substitute aircraft
• Hangarkeepers Liability
• Sale of aircraft and aircraft products and services
• Property damage to hangars and their contents
• Extra expense of temporary replacement aircraft parts
• Trip interruption expense
• Host liquor liability
• Search and rescue expense
• Emergency or unexpected landing expense
With underwriters and dedicated aviation claims specialists based in New York, Boston, Chicago, San Francisco, Toronto and Calgary, XL Catlin’s North America aviation team offers a suite of aviation insurance coverages for traditional and specialized companies, including major and regional airlines and corporate fleets, through to component manufacturers and fixed-base airport operators.
About XL Catlin’s Insurance Operations
XL Catlin insurance companies offer property, casualty, professional, financial lines and specialty insurance products globally. Businesses that are moving the world forward choose XL Catlin as their partner. To learn more, visit xlcatlin.com.
About XL Catlin
XL Catlin is the global brand used by XL Group Ltd (NYSE:XL) insurance and reinsurance companies which provide property, casualty, professional and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises throughout the world. Clients look to XL Catlin for answers to their most complex risks and to help move their world forward. To learn more, visit xlcatlin.com.