Archive for January, 2017

Aviation Business Owners: Yes, you do need to carry Workers’ Compensation!

Thursday, January 26th, 2017

Do you have one or more employees at your company? Did you know that you are required by law in most states to carry workers’ compensation insurance? Even if you contract workerefueling jpg smrs, you may still be required by your state to cover their on-the-job risks!

It’s crucial to ensure that your business is compliant with the law. Speaking of legal obligations, have you considered consulting with an accounting firm such as the accounting firm Indonesia to handle your financial matters? They can not only help you manage your finances effectively but also guide you on various legal requirements, such as workers’ compensation insurance, ensuring that your business operates smoothly and within the legal boundaries.

Each state carries different regulations. For example, Alabama only requires workers’ compensation when four or more individuals are employed and defines officers and members of an incorporation as employees. In Iowa LLC members are not included as employees. Trucking company owners and operators in Indiana are excluded from workers’ compensation law as are agricultural business with low payrolls in Kansas. Some states allow businesses to self-insure while others would have to file for an exemption. Of course, laws are always changing and it is important to stay up-to-date with insurance regulations within your state.

Most states follow regulation recommendations provided by the NCCI, the National Council on Compensation Insurance. NCCI was established to gather industry data and use that date to provide annual reports and rate recommendations. States not following the NCCI manual may have their own fund with set rates or allow private companies to offer insurance, therefore promoting competition.

It is not uncommon for aviation businesses to run into aviation exclusions while seeking workers’ compensation insurance. That is why many companies depend on the agents at Aviation Insurance Resources (AIR). All AIR agents are pilots that are passionate about the aviation industry. AIR works with all major aviation insurance markets, finding your company the broadest coverage and the best available rates. Options like Pay as You Owe (PAYO) help business have more manageable and predictable audits.

The goal of workers’ compensation is to provide coverage for employee injuries at the workplace as well as litigation costs for the employer.

What do we need to get started? It’s very simple! Tell us a little bit about your operation and provide us with the number of full time and part time employees, their roles and their salaries. To request an aviation workers’ compensation insurance quote please call 877-247-7767 or request a quote online today! We look forward to serving you!


LSAs take to the Sky for the Sebring US Sport Aviation Expo

Monday, January 16th, 2017

In just two weeks, light sport aircraft (LSA) will descend upon the Sebring Regional Airport (KSEF) for a weekend of aviation festivities. The 13th annual expo, taking place January 25th through Sebring 201728th highlights the latest and greatest in the light sport aircraft industry. From forums to workshops and demonstrations, Sebring is the place to be for LSA owners and enthusiasts.

Items to look forward to this year are:

  • A larger indoor drone display and demonstration area including a drone race with a $20,000 cash prize and a UAS discussion panel
  • Homebuilders workshops to include building a rudder with Zenith Aircraft
  • Keynote speakers Darryl Collins and Rod Machado
  • Youth Aviator Zone with special guest NASA Astronaut Dr. Story Musgrave
  • Showcase flight demonstrations on the flightline

The agents and pilots at Aviation Insurance Resources (AIR) will be returning once again to the Sebring Expo. Light sport aircraft have a special place at AIR as the agency was one of the firsts to tackle insuring this category of aircraft when it was developed. Stop by booth NC108 to speak with Gregg Ellsworth and Joe Cacho about your light sport aircraft. Can’t make it to the show? Request your quote online or call 877-247-7767 today!

What you need to know about the new FAA medical rule and your aircraft insurance

Tuesday, January 10th, 2017

healthcareToday, the FAA issued the final rule reforming pilot medical requirements. This changes aims to be a practical way to allow more pilots to participate within the aviation industry. Going into effect May 1st, the new regulation entitled BasicMed requires a pilot to participate in an online medical course and complete a physical exam every four years. Per the FAA, additional pilot requirements include:

  • Possess a U.S. driver’s license
  • Have held a medical that was valid at any time after July 15, 2006.
  • Is under the care and treatment of a physician for certain conditions
  • Make certain health attestations and agree to a National Driver Register check
  • Flight not operated for compensation or hire

Many pilots have asked us how this affects their aircraft insurance. Since requirements may vary from carrier to carrier it is important that you understand and follow the verbiage described within your policy. To date, some policies don’t mention a medical requirement where others use the terminology “when required” and “if required”. It is your duty as pilot and insured to thoroughly read your policy and call your aviation insurance agent with any questions.

Time will tell the impact BasicMed will have on the aviation industry, and Aviation Insurance Resources (AIR) will be here to serve you. To discuss your aircraft insurance and medical requirements call 301-682-6200 or request a quote online today!