AIG’s Aerospace Division takes off

Mike Durek, AIG South Africa MD

With a key new appointment, AIG is establishing a direct presence in the aviation sector which will enhance its product offerings to the market and improve customer service levels. Shaun Scandling joins the company as head of the newly formed Aerospace Di

Globally, AIG has served as a long-term strategic partner working on various aspects of aviation insurance and risk management. The company offers insurance and risk transfer solutions for a wide array of general aviation risks, from airport facilities to aircraft. In South Africa, the new division will focus on providing coverage for general aviation risks and will market airport and repairer liability products not previously available in the local market.

Mike Durek, AIG South Africa MD says the appointment is a further milestone on the company’s commitment to expanding its presence across industry sectors. “AIG has one of the most complete insurance portfolios available. This is a key competitive differentiator internationally – and one which is steadily being brought to bear in the local market.”

He adds that the provision of appropriate insurance solutions in specialised environments such as aviation depends on the knowledge and insight of suitably experienced individuals. “The quality of our people is considered paramount in delivering risk mitigation solutions which are priced right and cover the range of exposures with which aviation facilities must operate. We’re pleased with Scandling’s appointment, as he has what it takes to get this division off the ground.”

Scandling will work closely with United Kingdom-based Martin Stevens, AIG Chief Underwriting Officer: Aerospace, who is responsible for setting up aerospace operations within AIG regions outside of North America. “The time is right for the establishment of an Aerospace Division in South Africa; globally AIG writes in excess of US1-billion in premiums with top international carriers including SAA. The market is receptive to our knowledge-based approach and methodology; as such, the launch of the Division in South Africa should provide operators with an attractive value proposition to meet their insurance requirement,” adds Stevens who is in South Africa for the launch.

Scandling says an understanding of aircraft and the dangers of flying are considered essential to his role. “In addition to the obvious exposures, there are also risks which arise as a result of the regulations and legislation with which aviation companies must comply. There are also unique duties of care and often complex systems of management and governance. With our knowledge of these issues, AIG can better assist clients with risk solutions appropriate to their needs and in line with their corporate responsibilities and guidelines.”

By delivering aviation insurance through the local entity, Scandling adds that better capacity, resources and experience are now available to the industry. “Previously, these risks went into London; however, with the scale of the backing that comes with a global brand like AIG, it is now possible to insure locally and benefit from the ‘on the ground’ contact which is necessary for accurate cover.”