Eclipse Aviation News
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AIG Aviation, Inc. To Underwrite Insurance for the Eclipse 500 on behalf of the Member companies of AIG
Willis Global Aviation Provides Industry's First VLJ Premium Estimates for Eclipse 500 Jet
ALBUQUERQUE, NM - November 12, 2004 - Eclipse Aviation, manufacturer of the Eclipse 500 very light jet (VLJ), today announced that AIG Aviation, Inc., a member company of American International Group, Inc. (AIG), has agreed to underwrite hull and liability insurance for the Eclipse 500 jet on behalf of the Member insurance companies of AIG. Additionally, insurance broker Willis Global Aviation has provided preliminary rate projections for the Eclipse 500 owner pilot market.
“AIG Aviation is confident in the Eclipse 500 jet and the pilot training program developed by Eclipse Aviation's management team,” said William Lovett, vice president AIG Aviation, Inc. “Quality training will be a critical element to a successful future for VLJs. AIG Aviation has recognized that the successful completion of the Eclipse 500 type rating and mentor program is the prerequisite to insurability.”
The first ever guidance on anticipated Eclipse 500 jet premiums has been issued by insurance broker Willis Global Aviation, and is available by contacting Willis by email at [email protected].
“Willis has been working closely with aviation market underwriters and Eclipse personnel to develop hull and liability premiums that reflect the unique approach to training that Eclipse has established as well as the state-of-the art design and manufacture of the Eclipse 500 jet,” said Joe Trotti, CEO of Willis Global Aviation, North America.
In their commitment to insure Eclipse 500 owners, AIG Aviation and Willis Global Aviation join underwriter Global Aerospace, which announced in 2002 it would offer insurance to Eclipse pilots who successfully complete Eclipse's training program.
Also today, Eclipse announced that it has partnered with United Airlines to develop and deliver the comprehensive Eclipse 500 training program curriculum, which extends from preparatory training, through type rating transition course, to mentor pilot and recurrent training. The program is designed to serve pilots with a wide variety of backgrounds and skill levels. Pre-requisites are a private pilot certificate with instrument and multi-engine ratings. All pilots will receive an initial flight skills assessment at the United Flight Training Center in Denver that will evaluate the pilot's current skill level. If necessary, the pilot will also complete supplemental training. In addition, pilots will complete unexpected situation hands-on training including upset training in the Eclipse Aviation L-39 jet and high altitude physiology training to teach the effects of hypoxia. In addition, they will complete the Transitioning to Jets Self-Study CD-ROM course.
The Eclipse 500 type rating transition course starts with self-study modules on Eclipse systems and procedures followed by a week long course. Upon completion of the type rating transition course, the customer will either receive the type rating certificate or enter the mentor program. The number of hours to be flown with a mentor pilot will vary, but all pilots with no prior jet experience will be required to initially fly with a mentor.
About AIG Aviation
AIG Aviation, Inc. is a member of the American International Group, Inc. (AIG), the world's leading international insurance and financial services organization, with operations in more than 130 countries and jurisdictions. AIG Aviation, Inc. is a leading international aviation insurance provider addressing the insurance and risk management needs of airlines, aircraft and aviation operations of all types.
About Willis Global Aviation
Willis Group Holdings Limited is a leading global insurance broker, developing and delivering professional insurance, reinsurance, risk management, financial and human resource consulting and actuarial services to corporations, public entities and institutions around the world. With over 300 offices in some 80 countries, its global team of 14,500 Associates serves clients in some 180 countries. Additional information on Willis may be found on its web site www.willis.com.
“AIG Aviation is confident in the Eclipse 500 jet and the pilot training program developed by Eclipse Aviation's management team,” said William Lovett, vice president AIG Aviation, Inc. “Quality training will be a critical element to a successful future for VLJs. AIG Aviation has recognized that the successful completion of the Eclipse 500 type rating and mentor program is the prerequisite to insurability.”
The first ever guidance on anticipated Eclipse 500 jet premiums has been issued by insurance broker Willis Global Aviation, and is available by contacting Willis by email at [email protected].
“Willis has been working closely with aviation market underwriters and Eclipse personnel to develop hull and liability premiums that reflect the unique approach to training that Eclipse has established as well as the state-of-the art design and manufacture of the Eclipse 500 jet,” said Joe Trotti, CEO of Willis Global Aviation, North America.
In their commitment to insure Eclipse 500 owners, AIG Aviation and Willis Global Aviation join underwriter Global Aerospace, which announced in 2002 it would offer insurance to Eclipse pilots who successfully complete Eclipse's training program.
Also today, Eclipse announced that it has partnered with United Airlines to develop and deliver the comprehensive Eclipse 500 training program curriculum, which extends from preparatory training, through type rating transition course, to mentor pilot and recurrent training. The program is designed to serve pilots with a wide variety of backgrounds and skill levels. Pre-requisites are a private pilot certificate with instrument and multi-engine ratings. All pilots will receive an initial flight skills assessment at the United Flight Training Center in Denver that will evaluate the pilot's current skill level. If necessary, the pilot will also complete supplemental training. In addition, pilots will complete unexpected situation hands-on training including upset training in the Eclipse Aviation L-39 jet and high altitude physiology training to teach the effects of hypoxia. In addition, they will complete the Transitioning to Jets Self-Study CD-ROM course.
The Eclipse 500 type rating transition course starts with self-study modules on Eclipse systems and procedures followed by a week long course. Upon completion of the type rating transition course, the customer will either receive the type rating certificate or enter the mentor program. The number of hours to be flown with a mentor pilot will vary, but all pilots with no prior jet experience will be required to initially fly with a mentor.
About AIG Aviation
AIG Aviation, Inc. is a member of the American International Group, Inc. (AIG), the world's leading international insurance and financial services organization, with operations in more than 130 countries and jurisdictions. AIG Aviation, Inc. is a leading international aviation insurance provider addressing the insurance and risk management needs of airlines, aircraft and aviation operations of all types.
About Willis Global Aviation
Willis Group Holdings Limited is a leading global insurance broker, developing and delivering professional insurance, reinsurance, risk management, financial and human resource consulting and actuarial services to corporations, public entities and institutions around the world. With over 300 offices in some 80 countries, its global team of 14,500 Associates serves clients in some 180 countries. Additional information on Willis may be found on its web site www.willis.com.
About Eclipse:
Eclipse Aviation is in the business of designing, certifying and producing modern, affordable jet aircraft that will revolutionize the transportation market. The company is applying advanced electronics systems, manufacturing and business practices to produce aircraft that cost less than a quarter of today's small jet aircraft, will be significantly safer and easier to operate than those of today, and have the lowest cost of ownership ever achieved in a jet aircraft.
The goal of Eclipse is to bring the word "personal" into aviation, making it possible for commercial air passengers to move directly between cities on a quick, affordable and convenient basis. It will also allow pilot owners to enter the world of jet-powered aviation.