Aviation Products and Grounding Liability (USD1.5bn limit)
ABC continues to be the leader in developing coverage to satisfy the dynamic needs of the industry that it serves. Participants in the program may secure coverage limits of up to USD 1.5 billion
The risk transfer capacity provided by the ABC insurance facility is by means of a "line slip" renewed each October in the London market. The ABC program's London coordinating broker markets the line slip by gaining quota share underwriting capacity commitments from a number of financially strong Lloyd's syndicates and London and overseas insurers.
The lead underwriters take large risk positions on the slip and perform the underwriting negotiations on behalf of all of the underwriters providing capacity on the slip for each placement. Each insured's London broker performs the direct negotiations with the lead underwriters.
The program is accessed through any accredited Lloyd's Broker, although the majority of business under the program emanates from the offices of the member companies of the Brokers Committee. This is not a pre-requisite as any licensed North American Broker may utilize the services of their existing Lloyd's Broker to access the program.
The ABC London Office distributes details of the program to the Lloyd's Brokers that currently place business under the program and others which have requested to be kept informed. Click here for a list of Lloyd's Brokerages that receive ABC program details.
For information about the ABC, please contact your local aviation insurance brokers or one of the members of the Brokers Committee