Canadian Underwriter

What’s New: In brief (June 26, 2006)

June 26, 2006   by Canadian Underwriter

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The “world’s largest passenger aircraft” is set to be introduced into the commercial aviation space despite A series of delays have altered the production and delivery schedule of the “world’s largest passenger aircraft” into the commercial aviation market, according to A.M. Best. Aviation insurers say the size and large seating capacity of the A380 will increase claims exposure significantly, thus forcing airlines and manufacturers to seek higher hull and liability insurance limits, according to an article printed in the June 26, 2006 issue of ‘BestWeek’. The new airbus’ super-jumbo jet will also increase liability for airports. Airbus says it will uphold its promise to deliver the first A380 to Singapore Airlines before the end of the year, but adds that it will lonely deliver nine of the super-jumbo -aircraft s during 2007 as opposed to the initially planned 20 to 25 jets.

The ING Responsible Driver Guarantee, now offered to New Brunswick drivers, promotes ING’s belief that “if an accident does happen, you should not be afraid to make an insurance claim.” ING says its Responsible Driver Guarantee is intended to give peace of mind to first time driers involved in an at-fault accident. Through the product, policyholders who buy their insurance through independent brokers can submit a claim and know that their premiums and good driver rating will remain unchanged despite the accident. ING says it believes drivers shouldn’t be penalized for having “bad luck” and “should not be afraid of making a claim.” Alan Blair, COO of ING Canada for the Atlantic Region, says that, unlike other products, drivers that incur even a second accident will be treated it as if it was the first, under ING’s responsible driver product “It’s as if the accident never happened,” Blair says. “Customers will even keep their claims-free renewal discount.” Blair explains that the protection is available to qualifying drivers who have been continuously licensed and accident-free for seven years or more.

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