Aviation Risk Management & Insurance Solutions LLC

Is bigger better for the client?

Continued broker consolidation leaves buyers with less choices, which combined with a hardening aviation insurance market, could add to your renewal anxiety. Let's face it, the challenge to control your aviation insurance costs requires a long term, strategic plan which takes commitment and focus by your broker.

I would suggest that maintaining customer focus and service may suffer in situations like these given the transition challenges the large brokers face. Risk Managers and insurance buyers expect, and deserve, the full attention of their servicing team. Unfortunately the aviation sector of the insurance business has seen continuous change for the past several years and this certainly won't help. The proverbial musical chair game.

Both organizations have substantial and talented global aviation teams. But when the music stops who will remain? Worse yet, who may run before the music ceases? One plus one never equals two in these situations and the impact that this will have on the client shouldn't be ignored.

It's not all bad though, this will create opportunities as well. Our sector of the insurance world is highly specialized. This will likely support further development of smaller, some privately held, aviation specialists that retain top talent and deliver experienced solutions to their clients without unnecessary and uncontrollable distractions.

For now, keep an open mind. Consider your options which may be much different than you've considered in the past. Take control of your program so change isn't forced upon you with little notice.

Aon purchase of Willis Towers Watson to create world’s biggest broker - Business Insurance Aon PLC’s proposed acquisition of Willis Towers Watson PLC will create the world’s largest insurance brokerage, outstripping rival Marsh & McLennan Cos. Inc.