London, UK (4th October 2013) – Specialist global insurer Hiscox has launched a new direct website, designed to offer loss of licence and loss of training expenses insurance to aviation professionals.
Loss of licence insurance protects commercial pilots against the financial consequences of loss of licence resulting from bodily injury or illness. The policy includes a lump sum benefit responding to a long term unfitness assessment, full psychological illness cover as standard, worldwide cover and market-leading cover for alcohol and drug-related illnesses. The cover is worldwide and does not carry an extra charge for rotor-wing pilots. The level of cover can also be extended to include a monthly temporary benefit option which pays out in the event of a short term licence suspension, as well as cover for all sporting activities the pilot may choose to undertake during the life of the policy.
Loss of training expenses insurance offers valuable and inexpensive protection to trainee pilots against the possibility of incurring considerable debt if they are unable to complete their course or recover all or part of the fees as a result of accident or illness. The policy includes up to £120,000 lump sum insured, living expenses benefit, worldwide cover and gap cover for those cases when illness or injury may prevent a newly qualified pilot from seeking initial employment as a commercial pilot.
Jo Musselle, Chief Underwriting Officer at Hiscox UK, commented: “We believe this website is the first of its kind for trainee and commercial pilots to buy cover online. The cover designed to help alleviate some of the stress that comes from being unable to work due to injury and illness, providing peace of mind to many pilots across the world.”
Established in 1996 as Global Flying Insurance Services and joining Hiscox in October 2006, Hiscox Global Flying are recognised as one of the world’s leading and most experienced underwriting teams in aviation loss of licence insurance. We currently insure over 10,000 commercial pilots and trainees who fly for a variety of operators, ranging from leading airlines and niche executive companies to air ambulances and training schools, around the world.
For further information please contact:
Lucy Hensher +44 (0) 20 7448 6619 [email protected]
Notes to editors
Hiscox, headquartered in Bermuda, is an international specialist insurance group listed on the London Stock Exchange (LSE:HSX). There are three main underwriting parts of the Group – Hiscox London Market, Hiscox UK and Europe and Hiscox International. Hiscox London Market underwrites mainly internationally traded business in the London Market – generally large or complex business which needs to be shared with other insurers or needs the international licences of Lloyd’s. Hiscox UK and Hiscox Europe offer a range of specialist insurance for professionals and business customers, as well as high net worth individuals. Hiscox International includes operations in Bermuda, Guernsey and USA.
For further information, visit www.hiscoxgroup.com.
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