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News

GE insurance solutions examines impact of the new Airbus A380

AZDEL : 12 September, 2007  (Company News)
With possible seating capacity of up to 850 people, the Airbus A380 is increasing the aviation insurance industry's hull and liability exposure, according to an article in the latest issue of EXPOSURE, which is published by GE Insurance Solutions.
With possible seating capacity of up to 850 people, the Airbus A380 is increasing the aviation insurance industry's hull and liability exposure, according to an article in the latest issue of EXPOSURE, which is published by GE Insurance Solutions.

The A380 is a new aircraft with literally no claims experience; as a result, airlines, manufacturers and their insurers all need to understand how the 'A380 shifts exposure patterns,' said the article, which was authored by Rudolf Flunger, Global Aviation Leader; Wolfgang Vogel, Aviation Pricing Actuary; and Carsten Nawrath, Aviation Underwriter.

With its large seating capacity, there is a much greater probability for large losses above USD 500 million, according to the authors. (The authors emphasize that the article is not making assumptions about the safety characteristics of the aircraft or potential accident rates. They say the intention of the article is to discuss the exposure that the A380 aircraft adds to the aviation insurance industry).

GE Insurance Solutions (NYSE: GE) is a group of companies that protects people, property and reputations. GE Insurance Solutions is one of the world's leading providers of commercial insurance, reinsurance and risk management services
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