Jonathan Stern Discusses Insurance Issues Related to Corporate AircraftOn June 6, 2014 by Schnader in Aviation
On June 1, 2014, Aviation International News Online quoted Schnader attorney Jonathan M. Stern in an article titled “Aircraft Insurance 2014.” The article re-capped many of the topics discussed at the 2014 Aviation Insurance Association Conference, held May 3- 6 in Phoenix. The conference featured continuing-education sessions for insurance agents, brokers, underwriters and legal counsel. Managing risk, safety and commercial use of unmanned aerial vehicles were recurring topics among the speakers.
Mr. Stern gave a presentation on a hangar collapse following a record-breaking snowstorm. Mr. Stern recommended “that business aircraft owners and operators who lease or rent hangar space speak with their insurer before signing agreements involving waivers of subrogation.”
“When making any representations about insurance coverage they will carry, [aircraft owners] must ensure that they actually have those insurance coverages in place. And if they’ve agreed that their insurance company is going to waive its subrogation rights, they need to ensure that their insurance company has actually agreed to waive its subrogation rights. Because if that hasn’t happened, they’re at risk of losing their coverage. In this case it’s their hull coverage, but [in other cases] it could be liability coverage.”