IND001: Industry – Aviation Industry Session
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Transcript of IND001: Industry – Aviation Industry Session
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IND001: Industry – Aviation Industry Session
April 28, 20142:00PM – 4:00PM
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General Aviation Risk Issues
April 28, 2014
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General Aviation Risk IssuesSpeaker:
Steven W. Whitlock CIC, CRM, CAIPSenior Vice President – AirSure LimitedB.S. / A.S. Degrees from Embry-Riddle
Aeronautical UniversityFormer general aviation underwriter and risk
manager for a Miami-based National Airline
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General Aviation Risk Issues
What is General Aviation?• Aircraft Owners & Pilots Assoc.: All Civilian flying
except scheduled passenger airline service• National Business Aviation Assoc. & General Aviation
Manufacturers Assoc. (GAMA) jointly through “No Plane No Gain”: Focus on Business Aviation
• GAMA: All aviation other than military and commercial airlines
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General Aviation Risk Issues
What is General Aviation (cont’d)
• Wikipedia: All civil aviation operations other than scheduled air services and non-scheduled air transport operations for remunerations or hire.
• Merriam-Webster: The operation of civilian aircraft not under the direct control of a common carrier
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General Aviation Risk IssuesGeneral Aviation Facts
• 360,000 aircraft including helicopters, piston-powered airplanes, turboprops and long-range business jets worldwide. (223,000 in the U.S.)
• 35,000,000 flight hours per year. (23,000,000 in the U.S. – 2/3rds for business purposes)
• 166,000,000 passengers annually.• Primary training ground for airline pilots• 600,000 pilots in the U.S. (majority are comm’l)
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General Aviation Risk Issues
General Aviation Facts (cont’d)• Employs more than 1.2 million people in the U.S.• 74% of flights do not carry executives. Time critical
sales, technical, middle management.• 5000 public-use airports in the U.S. Airlines serve
only about 550.• Airlines serve only about 70 major hubs and have
abandoned nearly 100 mid-sized cities in just the last year.
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General Aviation Risk IssuesRisk Classification
• Aircraft - Business & Pleasure• Aircraft – Industrial Aid• Aircraft – Commercial
o Charter / Aircraft Managemento Trainingo Pipeline / Powerline Patrolo Medical Evacuationo Government Contractor
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General Aviation Risk IssuesRisk Classification (cont’d)
• Rotorwingo Med Evaco Offshoreo Heli-loggingo Industrial Aido Pleasure & Businesso Air Chartero Training
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General Aviation Risk IssuesRisk Classification (cont’d)
• Fixed Base Operationso Line Services (fueling, parking, catering, car rentals)o Aircraft maintenanceo Aircraft completions / painto Aircraft Storageo Aircraft / Parts saleso Chartero Aircraft rentalo Aircraft training
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General Aviation Risk Issues
Risk Classification (cont’d)• Corporate Non-Owned• Airports• Ground Handlers• Caterers• Maintenance, Repair, Overhaul (MRO)• Manufacturing (Airframe, Engines, Avionics,
Components)
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General Aviation Risk IssuesTypical Pleasure & Business Aircraft
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General Aviation Risk IssuesTypical Industrial Aid or Air Charter Turboprop aircraft. May also be Pleasure and Business if “owner flown”.
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General Aviation Risk IssuesTypical Industrial Aid or Air Charter mid-sized Business Jet
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General Aviation Risk IssuesTypical Industrial Aid or Air Charter large-cabin long-range Business Jet.
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General Aviation Risk IssuesTypical Rotorwing Emergency Medical Evacuation
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General Aviation Risk IssuesTypical Fixed Base Operation ramp and hangar
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General Aviation Risk IssuesTypical Fixed Base Operation underground fuel farm and truck
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General Aviation Risk IssuesTypical Aircraft Maintenance hangar
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General Aviation Risk IssuesTypical Helicopter maintenance facility
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General Aviation Risk IssuesPaint preparation
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General Aviation Risk IssuesCompletion Center paint and interior preparationAirliner configured for corporate business travel
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General Aviation Risk IssuesTextile preparation for interior installation
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General Aviation Risk IssuesTypical Aircraft Maintenance, Paint Prep, Paint, FBO and Aircraft Storage
in one location
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General Aviation Risk IssuesTypical Airframe Manufacturer
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General Aviation Risk IssuesBad things can happen in an aircraft hangar
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General Aviation Risk Issues
Selection of Insurers of General Aviation Risks
USAIG / USAUGlobal AerospaceAIG AviationStarr AviationAllianzXLSwiss ReQBE
Phoenix Aviation / Old RepublicBerkley AviationW. Brown & Associates / CatlinHouston Casualty / USSICAerospace Insurance ManagersACE USAGreat American Insurance Co.Meadowbrook
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General Aviation Risk IssuesCorporate Non-Owned Aircraft Liability
• Liability arising out of the use of aircraft not owned in whole or part by the corporation.
• Typical risk profiles:o Your company charters aircraft from a FAA certificated
Part 135 Air Taxi operator, oro You have an officer or employee who uses an owned,
borrowed or rented aircraft for company business
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General Aviation Risk Issues
Corporate Non-Owned Aircraft Liability (cont’d)• Use of Air Charter services
o Due Dilligenceo Third Party Auditors – IBAC / IS-BAO Certified
– International Standard for Business Aircraft Operations– Established or developing formal SMS program
o Air Charter Safety Foundationo ARG/US (Aviation Research Group)o Wyvern
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General Aviation Risk Issues
Corporate Non-Owned Aircraft Liability (cont’d)• Use of Air Charter services (cont’d)
o Minimum Insurance Standards– Aircraft Liability (Specify minimum limit)– Additional Insured– Aircraft Hull (not less than market value)– Waiver of Subrogation– Primary Insurance– Breach of Warranty– Set-offs– Insurance company at least A. M. Best A+– 30 day Notice of Cancellation– Certificate of Insurance
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General Aviation Risk Issues
Corporate Non-Owned Aircraft Liability (cont’d)• officer or employee who uses an owned, borrowed
or rented aircraft for company businesso Consider restrictions or prohibitiono Published corporate policyo Secure copy of primary policyo Secure as much coverage under primary policyo Consider purchasing a Corporate Non-Owned Policy
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General Aviation Risk Issues
Own or Operate a Business Aircraft• Evaluate insured value and liability limits• Flight crew – annual simulator-based recurrent training• Active SMS program• Available coverages:
o Diminution of Valueo Turbine Engine Mechanical Breakdowno Extra Expense coverages with no minimum period or daily limit, not less than 120 days.o Trip Interruption coverage. Evaluate costs to continue a road-trip with a leased or
chartered aircraft.o Liability and Hull War Risks
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General Aviation Risk Issues
Owned Aircraft Managed & Insured by a Third Party Management Company
• Management Agreement – Review• What happens if the Management Company
damages the aircraft while towing in or out of the hangar?
• What happens if the Management Company violates terms & conditions of their insurance?
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General Aviation Risk Issues
Questions?
Thank You
Steve Whitlock – [email protected]
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Questions?
Thank You
Steve Whitlock – [email protected]
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Air Methods
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Eric MarshRisk Manager Air Methods Corporation2 years with Air Methods10 years insurance brokerMaster’s Degree Aeronautical SciencePrivate PilotNavy P-3 Orion Hydraulics and Airframes MechanicMBA Student
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Air MethodsHEMS – HELICOPTER EMERGENCY MEDICAL
SERVICES387 AIRCRAFT
321 HELICOPTERS26 FIXED WING
4000 EMPLOYEESOPERATE IN 37 STATESSundance Helicopters – Las Vegas tour operatorBlue Hawaiian – Hawaiian tour operator
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Safety Management System
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Enterprise Risk Management
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What is ERM
Enterprise Risk Management – RIMS defines ERM as a strategic business discipline supporting the achievement of an organization’s objectives by addressing the full spectrum of its risks and managing the combined impact of those risks as an interrelated portfolio.
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What is SMS
Safety Management System – the formal, top-down business approach to managing safety risk, which includes a systemic approach to managing safety, including the necessary organizational structures, accountabilities, policies and procedures (FAA Order VS 8000.367)
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Possibility of loss or injury peril
Someone or something that creates or suggests a hazard
Freedom from harm or danger
The state of not being dangerous or harmful
DEFINITIONS
Risk Safety
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ERM
Encompasses all areas of organizational exposure to risk Provides a structured process for the management of all risksPrioritizes and manages those exposures as an interrelated risk portfolio
SMS
SMS - safety decision making throughout the organizationA structured means of safety risk management decision makingIncreased confidence in risk controls though structured safety assurance processes
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ERM
Seeks to embed risk management as a component in all critical decisions throughout the organization.
SMS
A safety promotion framework to support a sound safety culture
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SO WHAT!
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SMS = ERM
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DO YOU EVER WALKAWAY FROM A PRESENTATIONTHINKING, “THAT WAS GREATINFORMATION BUT I HAVENO IDEA HOW TO GETSTARTED!”
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ERM STARTER KIThttp://www.rims.org/resources/ERM/Pages/ERMStarterKit.aspx
Getting Started SMS
SAFETY MANAGEMENT SYSTEM(SMS)
IMPLEMENTATION GUIDEhttp://www.faa.gov/about/initiatives/sms/reference_library/policy_and_requirements/
ERM
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GETTING STARTED
THE FAA WEBSITE HAS A PLETHORA OF INFORMATION TO HELP A RISK MANAGER PREPARE A FORMAL SMS/ERM PROGRAMhttp://www.faa.gov/about/initiatives/sms/
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GETTING STARTED
SAFETY MANAGEMENT INTERNATIONAL COLLABORATION GROUP• RISK BASED DECISION MAKING PRINCIPLES
http://www.skybrary.aero/bookshelf/books/2077.pdf
• THE SENIOR MANAGERS ROLE IN SMShttp://www.skybrary.aero/index.php/The_Senior_Manager%27s_Role_in_SMS
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INTEGRATING SMS AND ERM
IF YOUR ORGANIZATION IS IMPLEMENTING AN SMS OR ERM PROGRAM CAPITALIZE ON THE MOMENTUM TO INTEGRATE THE OTHER!
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INTEGRATING SMS AND ERM
BOTH PROGRAMS LOOK TO ACHIEVE THE SAME BASIC PREMISE:BY UNDERSTANDING OUR RISKS, THE COMPONENTS INVOLVED IN THOSE RISKS, AND HOW THEY AFFECT OTHER PARTS OF THE COMPANY WE ARE ABLE TO BETTER MANAGE THE RISK AND AVOID SURPRISES
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0
1
2
4
3
SMS IMPLEMENTATION LEVELS
ORIENTATION AND COMMITTMENT
PLANNING AND ORGANIZATION
REACTIVE PROCESS
PROACTIVE PROCESS
CONTINUOUS IMPROVEMENT
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RIMS ERM STARTER KIT
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INTEGRATED MODEL
COMMITT DESIGN MONITOR REVIEWACTIVATE IMPROVE
0
ORIENTATION AND COMMITTMENT
1
PLANNING AND ORGANIZATION
3
2
REACTIVE
PROACTIVE
4
CONTINUOUS IMPROVEMENT
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EVEN MORE GRANULAR
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OBTAINING THE BOARD’S BUY IN
The Company relies heavily on technology and automated systems to operate its business and any significant failure or disruption of thetechnology or these systems could materially harm its business.
Billing investigations and audits – State and federal statutes impose substantial penalties—including civil and criminal fines, exclusion from participation in government programs, and imprisonment—on entities or individuals (including any individual corporate officers or physicians deemed responsible) that fraudulently or wrongfully bill governmental or other third-party payers for services.
Our operations are affected by adverse weather conditions and seasonal factors.
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OBTAINING THE BOARD’S BUY IN
• THE BEST PLACE TO START IS THE RISK FACTORS SECTION OF THE 10K
• IF YOU ARE NOT PUBLICALLY TRADED HAVE A MEETING WITH SENIOR MANAGEMENT AND DISCUSS THEIR RISK ISSUES
• LET SENIOR MANAGEMENT KNOW THERE NEEDS TO BE SOMEONE RESPONSIBLE FOR IMPLEMENTING CORPORATE WIDE RISK MANAGEMENT AND THAT SOMEONE SHOULD BE YOU
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OBTAINING THE BOARD’S BUY IN
WHAT DO THE CEO’S OF OTHER COMPANIES THINK OF ERM?DAN AKERSON – CHAIRMAN ANC CEO GENERAL MOTORS:“I THINK RISK MANAGEMENT IS AN ELEMENT OF ALL GOOD BOARDS AND EXECUTIVE TEAMS AND IT WILL ENSURE THE VIABILITY IN DOWNTURNS AND HIGH RISK PERIODS……
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OBTAINING THE BOARD’S BUY IN
“THERE IS PROVEN, SCIENTIFIC EVIDENCE THAT ORGANIZATIONS THAT HAVE A HIGHER RISK MATURITY HAVE STRONGER FINANCIAL PERFORMANCE.” – LOGIC MANAGER
POINT OUT WHAT YOUR COMPETITION IS DOING!
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GOING THROUGH THE SMS PROCESS
Tatonduk Outfitters LTD 121 Peninsula Airways, Inc. 121 Northern Air Cargo, Inc. 121Era Aviation, Inc. 121 Coastal Helicopters, Inc. 135Taquan Air 135 Temsco Helicopters 135 Ryan Air (ATS), Inc. 135Northern Air Services 145Federal Express Corp. 121 GoJet Airlines, LLC 121 Endeavor Air 121 Trans States Airlines, LLC 121
EagleMed, LLC 135
United Parcel Service Co. 121Flight Safety International 142Aviation System Standards FAA 135 Air Evac EMS, Inc. 135 SpiritJets, LLC 135Corporate Flight Mgt, Inc. 135Aviation System Standards FAA 135EagleMed, LLC 135CHAMPLAIN ENTERPRISES 121PIEDMONT AIRLINES INC 121ATLAS AIR INC 121BALTIA AIRLINES INC. 121
http://www.faa.gov/about/office_org/headquarters_offices/avs/offices/afs/afs900/sms/media/sms_newsletter.pdf
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GOING THROUGH THE SMS PROCESS
US AIRWAYS INC 121 DYNAMIC AIRWAYS LLC 121JETBLUE AIRWAYS, CORP. 121 MOUNTAIN AIR CARGO INC 121SKYLEASE 1, INC. 121 HYANNIS AIR SERVICE 121 POLAR AIR CARGOWORLDWIDE INC 121 US AIRWAYS INC 121DYNAMIC AIRWAYS LLC 121JETBLUE AIRWAYS, CORP. 121MOUNTAIN AIR CARGO INC 121SKYLEASE 1, INC. 121 HYANNIS AIR SERVICE 121
PSA AIRLINES INC 121 CHAUTAUQUA AIRLINES INC 121FRONTIER AIRLINES INC 121REPUBLIC AIRLINES INC 121 SHUTTLE AMERICA CORP 121 MN AIRLINES LLC 121 GULF AND CARIBBEANCARGO INC 121 KALITTA AIR LLC 121 ABX AIR, INC 121 USA JET AIRLINES, INC 121 AIR WISCONSIN AIRLINES 121 UNITED AIRLINES, INC 121
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GOING THROUGH THE SMS PROCESS
Airnet System Inc. 135 Aitheras Aviation LLC 135 Executive Air Taxi 135Executive Jet Management, Inc. 135 First Wing Aircraft Charter & Mgmt 135 Mercy St. Vincent 135 Midwest Aero Club, LLC 135 NetJets Aviation, Inc 135 Oak Air, LTD. 135 Priester Aviation 135Travel Management Co LTD. 135 Ultimate Jet Charters Inc. 135Bowling Green State University 141 University of North DakotaSchool of Aviation 141
Aviator College 141 F & E Aircraft Maintenance 145 AAR Aircraft Services, Inc. 145 Propulsion Tech 145Precision Turbines, Inc. 145A/C DUCTING REPAIR 145 ST AEROSPACE 145Jack Harper 135 K&S Helicopters 135 Makani Kai Helicopters 135Med-Trans Corporation 135 Pinnacle Air Charter LLC 135Reach Air Medical Service LLC 135 Rogers Helicopters 135 Schubach Aviation 135
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WELL SAID
JEAN ROSE – EXECUTIVE DIRECTOR GLOBAL HUMAN RESOURCES GENERAL MOTORS“ERM IF DONE PROPERLY LOOKS AT A CROSS FUNCTIONAL VIEW…….ALL OF THE FUNCTIONAL AREAS, REGIONAL AREAS WEIGHING IN ON WHAT’S HAPPENING. VARIOUS SUBJECT MATTER EXPERTS WEIGHING IN. THEY ARE CARRYING AROUND THAT INFORMATION THEY NEED TO UNDERSTAND ABOUT THE COMPANY AND THEN THEY ARE SHARING IT IN A FORMAT WHERE SOMEONE ELSE MIGHT SAY I’M HEARING SOMETHING IN FINANCE THAT MIGHT IMPACT HR, OR SOMETHING IN HR THAT MIGHT IMPACT MANUFACTURING. IT’S A FORUM THAT ALLOWS EVERYBODY TO TALK ABOUT THE CRITICAL RISKS OF THE COMPANY.”
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Questions, Final Comments and Contact Information
Eric Marsh, Risk ManagerAir Methods Corporation 7211 S. Peoria St.Englewood, CO 80112P: 303.792.7550C: 720.272.1299
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Roundtable
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Please complete the session survey on the RIMS14 mobile application.