An Example of Professional Liability Insurance in Action How does professional liability insurance work? Imagine you’re an architect, and you design a bridge for a local municipality. A construction company builds the bridge according to your blueprints, and initially, it looks fine. However, after a few months, parts of the bridge show signs of deterioration. Then, before the city can do anything, a section of the bridge collapses. Fortunately, no one is hurt, but a…

Global Aerospace Editorial Team, February 5, 2024ClaimsThis article was originally published in the February 2024 issue of Jetstream.It is no secret that claim costs in the aviation industry have been rising steadily and significantly in the past few years. There are many reasons for this uptick. Some of them include general economic inflation, which has led to considerable increases in consumer prices and interest rates worldwide. Additionally, supply chain issues have led to repair delays…

The FAR Part 91 sector of aviation has long enjoyed an admirable safety record. Business aviation has always been perceived as a very safe and efficient way to fly.But much has happened in the world over the last few years that has impacted business aviation. Significant among the changes is a decrease in engagement caused by the downturn in flying during COVID and the outflow of talent to the airlines.So, what has been the impact…

Global Aerospace Editorial Team, March 21, 2024Aviation SafetyAviation around the world is experiencing a period of unprecedented safety. In the US alone, there has not been a mass-casualty plane crash since 2009. That statistic is even more impressive given that there have been many incidents in the last 15 years that could have resulted in significant injuries and loss of life. In the first week of January 2024, two potentially catastrophic events occurred. On January…

How the Internet of Things (IoT) Impacts Commercial/Industrial HVAC SystemsMarch 21, 2024 by TimberlineThe term Internet of Things (IoT) was coined in 1999 by a computer scientist at Procter & Gamble. It describes systems of connected devices—as distinct from what you might say is the Internet of Places (i.e., the traditional internet), meaning the system of connected computer locations worldwide.So, the IoT isn’t new. However, companies today are increasingly leveraging it for benefits like:Increased efficiency…

Life today can be physically taxing and psychologically stressful. But you don’t simply have to grin and bear it. When it comes to pain relief and relaxation, nothing beats an advanced massage chair. The easing of aches and pains and the calming effect a chair produces can be truly life-changing. That term may sound a little cliche, but it is accurate in this context. The massage chair features in the latest models do an exceptional…

LINTHICUM, MD, March 20, 2023 – NFM Lending and its family of lenders have announced that they have earned the 2024 Top Workplaces USA award, issued by Energage, a purpose-driven organization that develops solutions to build and brand Top Workplaces. The Top Workplaces program has a 15-year history of surveying over 20 million employees and recognizing the top organizations across 60 markets for regional Top Workplaces awards. Top Workplaces USA celebrates organizations with 150 or more…

Global Aerospace Editorial Team, February 5, 2024Aviation Safety, InnovationOne of the ways Global Aerospace stays at the forefront of aviation and aerospace insurance is by continually engaging with the companies behind next-generation technological advancements. Based in Silicon Valley, Reliable Robotics is pushing the envelope on autonomy and automation in aviation. We were pleased to talk with Reliable Robotics Chief Business Officer Myles Goeller about the company’s innovative offerings and how new technology is affecting aviation…

The aviation industry traces its roots back to the early 1920s—shortly after the conclusion of World War I. Not surprisingly, the aviation insurance industry developed at about the same time. After all, powered flight (and the technology behind it) was still in its infancy, so the associated risks were high. The company that is now called Global Aerospace was formed to provide financial protection to the innovators pushing the boundaries of aviation. In fact, it’s…

In the world of safety management, “power” might not be the first word that comes to mind. However, we’re going to explore an intriguing concept—the power that safety managers possess and how we can harness it to create a significant impact within our organizations.Safety managers are, in essence, safety leaders, and they have the ability to influence and drive change through the power of leadership. In this article, we’ll break down the concept of power…