28-Mar-2023 Source: Skyrisks
Skyrisks Limited (“Skyrisks”) announced that they are partnering with Convex Group Ltd (“Convex”) to address the fast-growing insurance needs of the Advanced Air Mobility (AAM) sector.
The AAM sector embodies the future of aviation, leveraging revolutionary new aircraft, such as the new breed of electric vertical takeoff and landing (eVTOL), and a broad array of innovative technologies to ensure the safe, quick, affordable and sustainable movement of people and goods.
Newly incorporated, London-based Skyrisks is preparing to launch as managing general agent pioneering comprehensive insurance products for AAM businesses in partnership with Convex. AAM businesses will have diverse insurance needs including hull all risks, third party liability, passenger & crew liability, premises, products & hangarkeepers liability, and other coverages.
Skyrisks announces the appointment of Alistair Blundy, a specialist Aviation Underwriter with Allianz Global Corporate & Specialty(AGCS), to chief executive officer upon his completion at AGCS. Blundy notes “The vast majority of AAM aircraft are zero-emission and exceptionally versatile, providing a cleaner, faster, quieter, and more affordable alternative to conventional platforms. Skyrisks is committed to driving global sustainability action in aviation, which today accounts for 2% of global emissions.”
Michael Hansen, Head of Aerospace at Convex, said: “Tackling the enormous challenges of sustainability and safety in aviation are among the greatest responsibilities of the insurance market. It will take a data-driven specialist such as Skyrisks to underwrite the risk from the ground up with coverages tailored for the needs of the AAM ecosystem.”
Skyrisks will seek to achieve a market leadership position once it is fully operational by providing innovative risk management to the AAM sector through development of bespoke policy forms and coverages, granular pricing models, and proactive targeted underwriting appetite.