the aviation insurance industry presentation (1)

THE AVIATION INSURANCE INDUSTRYThe Aviation Insurance Industry must evolve with global events.

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AGENDA1.Introduction2.Background of Aviation Insurance

and introduction of thesis3.What is happening now?4.Case Study – Fort McMurray5.Conclusion6.Q&A

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INTRODUCTION

Oliver Charles Culley17 years oldWork Experience at Lloyd’s

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BACKGROUND OF AVIATION INSURANCE INDUSTRY

The beginning of Aviation saw the Wright Brothers in 1903, flying the very first rigid-framed plane in North Carolina, USA

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In 1911, insurers within the Lloyd's of London market wrote the very first aviation insurance policy

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In 1929, the Warsaw Convention recognised the Airline Industry

Over the next 100 years, Lloyd’s of London oversaw the insurance of exotic aviation aspects such as satellites, as well as the claims of famous failed flights such as The Hindenburg Disaster, The Challenger shuttle and 9/11

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The commercial flight incidents that occurred in the 20th/21st century have spurred the addition of new safety measures

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WHAT IS HAPPENING CURRENTLY?

Environmental risks such as El Niño

Risks posed by emerging Cyber TerrorismRising

prices and scarcity of oil used to power planes

Scarcity and quality of pilots coming through

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CASE STUDY – FORT MCMURRAY CONT.

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CONCLUSION

Where global events aren’t learnt from, similar losses are sustained again in the future.Where losses are learnt from, and adaptations made, losses can be maintained in the future and exposure limited.

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REFERENCEShttp://www.usatoday.com/videos/news/nation/2016/08/04/88058148/ http://www.global-aero.com/about/history/http://www.global-aero.com/about/history/ http://municipalaffairs.alberta.ca/documents/msb/2015_Municipal_Affairs_Population_List.pdfhttp://www.insurancetech.com/data-and-analytics/9-11-and-the-insurance-industry-five-years-later/d/d-id/1309633?https://en.wikipedia.org/wiki/Economic_effects_arising_from_the_September_11_attackshttp://www.ifpo.org/resource-links/articles-and-reports/protection-of-specific-environments/the-evolution-of-airline-security-since-911/http://www.dailymail.co.uk/sciencetech/article-2869827/Hackers-threat-aircraft-safety-Aviation-chiefs-warn-devastating-consequences-cyber-attack.htmlwww.canadianunderwriter.ca/.../nearly-3-6-billion-insured-losses-fort-mcmurray-wild

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Q&A