April 19, 2018— Avemco Insurance Company and the FAA Safety Team (FAASTeam) recently executed a new Letter of Understating (LOU) that will continue their partnership in promoting aviation safety awareness and training to all airmen and industry service providers.
In addition to other recognized safety-based aviation initiatives highlighted in the newly signed LOU, Avemco® will continue to fund and support the FAA WINGS-Pilot Proficiency Program pins to eligible participants in the program. To learn more about the FAA WINGS voluntary Pilot Proficiency Program read here*.
Avemco will also continue to offer policyholders credits** on their annual insurance premiums, called “Safety Rewards” when they attend qualified clinics, training's and seminars, as well as the aforementioned FAASTeam safety presentations. Marci Veronie, Vice President of Sales and Marketing, explains further, “Here at Avemco we recognize the importance of continual pilot training, especially training offered through organizations and flight instructors who are considered the experts in this field.” Mike Adams, Senior Vice President of Underwriting, adds “Our file case studies show losses that could have been prevented with greater awareness and attention to issues like human factors, safety management and pilot/aircraft preparedness. That is why Avemco has recently chosen to support these safety-based training curriculum's.”
Avemco Insurance Company, a leading pleasure and business general aviation insurer in the United States, has been insuring airplanes and pilots since 1961. Headquartered in Frederick, Maryland, the company has financial strength ratings of “A++ (Superior)” from A.M. Best Company, Inc. and “AA- (Very Strong)” from Fitch Ratings. Avemco is a wholly owned subsidiary of HCC Insurance Holdings, Inc. For more information, please visit www.avemco.com.
**Premium credits subject to underwriting guidelines. The information described herein does not amend, or otherwise affect, the terms and conditions of any insurance policy issued by Avemco. In the event that a policy is inconsistent with the information described herein, the language of the policy will take precedence.