8/11/2011

Introduction to Aviation Insurance and Risk Management, Second Edition Review

Introduction to Aviation Insurance and Risk Management, Second Edition
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Anyone who has read any of Alexander Well's texts on the aviation industry knows that he is without peer in his knowledge of the management and operations of the airline industry. He teaches what I believe is still the only course on airline management at any college in the nation and is highly respected for his work.
In this volume, he focuses specifically on the problems of risk and insurance as it applies to the airline industry. Although the book is relatively new, published in 2000, given the events in the industry in the past few years it may already be ripe for a revision. Regardless, the text provides a broad, yet concise, understanding of insurance and risk management as it applies to the aviation industry, both commerical and otherwise.
This book should be required reading for anyone considering a career in aviation management or working in the insurance industry with airlines.

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Revisions and additions make the second edition an evenbetter teaching and learning tool of the basic principles of insuranceand risk with their special application to the aviation industry.Afoundation of general knowledge is provided in a subject matter thatplays a significant role in any aviation-related business.A numberof the chapters have been completely updated to reflect the manyindustry, market, and legislative changes during the 1900s.Thechapter on hull and liability contracts includes "InsuranceConsiderations for Business Aircraft Owners."This new section coversinsurance requirements for companies operating aircraft under variousarrangements including joint ownership, interchange agreement,time-sharing agreement, exclusive dry lease, management company, andfractional ownership.Appendixes include current aviation policies,endorsements, and applications as well as self-tests.Collegestudents, corporate pilots or fixed base operators, and individuals inthe insurance business will gain a broad understanding of insuranceand risk management applicable to the aviation enterprise.

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