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Liability and Medical coverage is provided as an addition to a Homeowners policy or a Commercial Package policy for damages that arise out of the operation of motor boats that are too big to qualify under these policies.
Insurance Industry News from ProgramBusiness.comNew Aviation Program
New Aviation Program for Smaller Aircraft
Storefront owner Britt Paulk Insurance Agency, Inc. announces that they will be the Managing General Agency for a new national General Aviation program for the U.S. from AXA Corporate Solutions.
Together Britt Paulk and AXA Corporate Solutions said they will develop an aviation program that specializes in smaller aircrafts.
AXA Corporate Solutions, already a recognized aviation insurance company, wants to become a force in the U.S. market. Patrick de La Morinerie, AXA deputy chief executive officer, stated that working with Britt Paulk and its online capabilities will enable AXA to "jump start" the program in 49 states.
Britt Paulk said its OPUS product will allow the group to issue policies online for risks that have a hull value up to $3.5 million and liability coverage of up to $2 million per occurrence. These policies will flow through the OPUS system directly to the retail agent in most cases.
The OPUS system has been already in place for a certain number of years to issue policies for Builder's Risk, Equipment, Marine Cargo and Self Storage on behalf of different major international carriers. Britt Paulk now intends to enlarge this unique facility to Aviation with the support of AXA Corporate Solutions. All of these products are underwritten and distributed from Britt Paulk's home office in Carrollton, Georgia.
The aviation team will be led by Karl Jorda who has 20 years of aviation experience. The group will enter the aviation market in the second quarter of 2007 and will work to have the online OPUS product ready before the end of the year. The product will be written on AXA Insurance Co. paper which is an admitted product with an 'A- " AM Best rating.
For more information, visit their storefront at www.programbusiness.com.
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