Interview with Alain Burguière, Subscription Director for La Réunion Aérienne, an insurance
and re-insurance group.
Is helicopter insurance any different from
the insurance for other modes of transport?
Alain Burguière: It’s not that different from car
insurance. The insurance policies for helicopters
cover the damage incurred by the helicopter,
the passengers and third parties, and they are
compulsory. The policies can be subscribed
by customers, major operators,
and manufacturers.
For instance, since 2006, Eurocopter has been
offering its top customers a services package
covering maintenance, spare parts, training and
insurance.
What effect did 9/11 have on the aircraft
insurance market?
A. B.: 9/11 had a major impact on the main
aeronautical risks (the airlines) and on the cost
of insurance, which increased five-fold overnight.
But the helicopter insurance market was affected
very little, as helicopters are in the general aviation
category where the risks are well-balanced and
pooled because of the large number of
machines flying.
How do you see
the helicopter
insurance market developing in the future?
A. B.: The helicopter market is on a fast track
for growth, with new machines either being certified
or already flying. There will therefore be an upswing
in the demand for insurance in the years ahead and the insurers will be ready to meet this need. They must nevertheless remain vigilant as the safety standards observed by operators still vary widely.
The world’s top market in the US is problematic
because the liability levels are 4 to 5 times higher
than in Europe and the US operators are generally
under-insured. Accident victims therefore naturally turn to the
manufacturers for liability.
