A Controlled Flight into Terrain?

Contributor: Benjamin Weber, Head of Aviation, PartnerRe
Date: 12/1/2007
Stringent Limits and cover management, coupled with adequate rating levels, have kept the booming U.S. General Aviation insurance sector flying a strong, steady course for many years. However, due to actual or perceived pressure from new entrants, most General Aviation ­segments are now entering a downward flight trajectory. Restored ­discipline in individual and market underwriting is indispensable to avert potential disaster.
Tags: U.S., Aviation

Anything Wrong with Being 2,500 Years Old?

Contributor: Sara Thomas, Client & Corporate Communications, PartnerRe. With thanks to Michiel Starmans, Jo Willaert, and Keith Jones.
Date: 12/1/2007
2,500 years ago, the Ancient Greeks sat down and thought about what to do if cargo was intentionally destroyed in order to save a ship and the rest of its cargo. They decided that, ‘that which has been sacrificed for all, shall be made good by the contribution of all’. And this very fair thinking has clearly stood the test of time because it’s the logic behind ‘general average’, the procedure that is still used today to distribute intentional losses made to protect the common insurance interests on a loss inflicted ship.
Tags: Europe, Marine, Aviation