UK-based private jet cancellation coverage specialist Falcon MGA Services has teamed with aviation insurance veteran Peter Schmitz to bring the company’s JetSure AOG flight-cancellation insurance product to the U.S. Schmitz, the former Global CEO of Aon’s Aviation Specialty insurance division, will head up the newly established JetSure USA, which has exclusive rights to market this insurance to U.S. business jet operators.
The JetSure product insures companies against unexpected financial costs incurred in the event their aircraft suffers a technical fault, according to Falcon MGA. “It covers many expenses not covered in your aviation insurance policy such as the cost to replace an aircraft AOG, relocation of the aircraft, crew costs, and many other expenses,” Schmitz said. “JetSure offers an affordable way to budget for the unexpected costs jeopardizing your profitability.”
Joining Schmitz at JetSure USA is Chad Ingram, a pilot and entrepreneur. “As a pilot and jet aircraft owner and operator, I understand the costs involved in AOG, such as lost revenue and extra costs involved in providing backup lift,” he added. “These can be significant, and we have a solution that can balance out clients’ indirect costs and even make their operations more competitive.”