The Fourth Industrial Revolution is transforming the way airlines and airports do business. The advancement of technologies such as artificial intelligence and internet of things is increasing operational efficiency, but the digital nature of these technologies makes them intrinsically vulnerable to cyberattacks. Cyberattacks on critical infrastructure have become the new normal across sectors such as… Continue reading Multi-Stakeholder Mobilization to Reinforce Cyber Resilience in Global Aviation
Tag: aviation insurance
FAA Knew Boeing’s 737 MAX Was Risky but Allowed Flights
U.S. regulators decided to allow Boeing Co.’s 737 MAX jet to keep flying after its first fatal crash last fall even when their own analysis indicated it could become one of the most accident-prone airliners in decades without design changes. The Federal Aviation Administration’s November 2018 internal analysis, released during a House committee hearing Wednesday,… Continue reading FAA Knew Boeing’s 737 MAX Was Risky but Allowed Flights
Climate Risk Increasing Concern for Airport Community: Willis Towers Watson
Willis Towers Watson, a leading global advisory, broking and solutions company, highlighted the top 20 risks faced by airports with climate risk becoming a major concern. As part of a recent conference held by the Willis Towers Watson Airport Risk Community (ARC), 86 percent of the audience felt that airports are either very exposed or… Continue reading Climate Risk Increasing Concern for Airport Community: Willis Towers Watson
Willis Towers Watson Partners with AOA
The aviation team at Willis Towers Watson has entered into a partnership with the Airport Operators Association, in an industry that faces complex and fluid risks. CEO of Global Aerospace, Willis Towers Watson, John Rooley said: “We are delighted to formalise our relationship with the AOA, as the UK’s leading airport representative and look forward… Continue reading Willis Towers Watson Partners with AOA
MS Amlin Exits Aviation Market
MS Amlin has confirmed its exit from the aviation insurance market. Effective October 14, 2019, the insurer will no longer write aviation insurance renewals or new business. The decision excludes the aviation hull war portfolio, which will continue to be underwritten by MS Amlin’s war team. Simon Beale, chief executive officer at MS Amlin, said:… Continue reading MS Amlin Exits Aviation Market
Pilots Sue Boeing for $100M Over Claims 737 Max Was Unsafe
Southwest Airlines’ pilots union has filed a lawsuit against Boeing for $100 million over lost wages from the grounding of 737 MAX jets in the wake of two crashes and a myriad of safety issues. The lawsuit was filed in Dallas County, Texas, and alleges that Boeing represented the planes as “airworthy and essentially the… Continue reading Pilots Sue Boeing for $100M Over Claims 737 Max Was Unsafe
Willis Research Network Partners with Mitigation Solutions on Global Aviation and Aerospace Initiative
The Willis Research Network (WRN) announces a new partnership with Mitiga Solutions, which will provide leading-edge volcanic ash cloud and sandstorm forecasting to aviation and aerospace clients to optimise air traffic management. This new partnership will enable airlines, airports and associated organisations in both the public and private sectors to predict and mitigate the impact… Continue reading Willis Research Network Partners with Mitigation Solutions on Global Aviation and Aerospace Initiative
Aviation Industry Expects Double-Digit Insurance Premium Hikes after 737 MAX Grounding
The aviation industry is bracing for double-digit insurance premium hikes for the first time in about 15 years, as insurers wrestle with higher costs from aircraft groundings, including the grounding of Boeing Co’s 737 MAX jets following two fatal crashes, insurance executives said this week. Aviation industry premiums have been creeping up since 2017 as… Continue reading Aviation Industry Expects Double-Digit Insurance Premium Hikes after 737 MAX Grounding
U.S. Transportation Chief Asks New FAA Chief to Review Agency in Wake of Boeing Crashes
U.S. Transportation Secretary Elaine Chao said on Monday she has asked the new head of the Federal Aviation Administration (FAA) to assess the agency’s performance in the wake of two fatal crashes of Boeing Co’s 737 MAX planes since October. Chao, who administered the oath of office to new FAA Administrator Stephen Dickson, a former… Continue reading U.S. Transportation Chief Asks New FAA Chief to Review Agency in Wake of Boeing Crashes
Boeing Recovered $500M from Insurers Due to Fleet Suspension
A US aircraft manufacturer Boeing has disclosed that it recovered $500 million from its re/insurance program during the second quarter of 2019 for losses related to the grounding of its 737 MAX fleet. As part of its Q2 results, Boeing said that it had recorded an earnings charge of $5.6 billion, net of insurance recoveries,… Continue reading Boeing Recovered $500M from Insurers Due to Fleet Suspension