10 Things to Know About Aviation

1. Underwriters at Lloyd’s wrote the earliest aviation insurance policy in 1912, but they considered the aircraft unsafe, and therefore only covered persons and property. — International Risk Management Institute
2. The basic airplane policies were derived from the earlier marine insurance language, and they referred to the aircraft as a “hull.” — IRMI
3. In 1919 the Travelers Insurance Co. began offering a comprehensive policy that provided public liability protection, life insurance, workers’ compensation and trip accident coverage. With respect to aircraft public liability protection, the form followed the automobile policy except for separate passenger liability coverage within the aircraft liability policy. — IRMI
4. In 2014 there were 73 accidents reported. That’s down from 81 in 2013. — International Air Transport Association
5. The global accident rate as measured by the rate of hull losses on Western-built jets was 0.23 in 2014, or about one accident for every 4.4 million flights and the lowest rate in history. — Insurance Information Institute
6. More than 1 billion people will fly each year on commercial flights in the U.S. by 2029. — Federal Aviation Administration
7. Owners of all but the smallest toy drones (anything more than 9 oz.) would have to register them with the U.S. government before the end of the year under Federal Aviation Administration recommendations. — FAA
8. Drone registration has been a hot button issue in 2015 amid a growing number of cases of drones flying near aircraft. The FAA has been receiving more than 100 reports a month of pilot sightings and other drone safety incidents. — FAA
9. Insurance giant AIG in November introduced coverage for the growing drone industry with policies designed to protect drone operators from liability due to collision, technical problems and other situations. — AIG
10. While 2014 experienced several large, high-profile losses, the underlying trend for airline safety continued to improve. The 2014 loss total was $1.67 billion, made up of $414 million for hull losses, $791 million for liabilities and an estimated $465 million for attritionals. — Willis