Aviation Insurance Group of Oklahoma
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- Posts: 51
- Joined: Mon Sep 09, 2002 8:27 pm
Aviation Insurance Group of Oklahoma
All - I also belong to the Bonanza email list. This morning there was a message posted there by a Bonanza driver that Aviation Insurance Group, the agency in Oklahoma, is under investigation for something, and has ceased issuing policies. I HAVE NO PERSONAL KNOWLEDGE OF THE TRUTH OF THIS.
They are NOT a part of AIG Aviation, Inc., the large and very reputable insurance company with offices all over the country.
If you are insured thru Aviation Insurance Group, you better find out what's going on.
If you renewed recently with them, find out if your premium was paid to the insurance company that actually issued your policy, or you may have no coverage at all.
They are NOT a part of AIG Aviation, Inc., the large and very reputable insurance company with offices all over the country.
If you are insured thru Aviation Insurance Group, you better find out what's going on.
If you renewed recently with them, find out if your premium was paid to the insurance company that actually issued your policy, or you may have no coverage at all.
My policy with AIG was due for renewal on June 16. I received notice today that as of the 16th my policy was not current. When I phoned AIG, I was told that, as of June 13, they are not allowed to renew any policies. They are not sending out any notices to let their policies holder know of the problem. They are simply sending notices of non-coverage. My notice was mailed June 19, telling me my coverage stopped the 18th. I've been flying without coverage until today!!
The person I spoke with said I had to go to another company for coverage.
The person I spoke with said I had to go to another company for coverage.
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- Joined: Mon Sep 09, 2002 8:27 pm
I question what you mean when you ask if they'll get it sorted out by the end of August. Do you ever want to deal again with these people? I surely wouldn't.
Select an agent or broker other than these folks. Ask around your airport who likes whom as an agent. Get someone who can shop all of the insurance companies, who will give you all of the quotes they get, and let you decide what to buy, after a thorough explanation of each quote.
Also, find someone who publishes contact info, like off hours phone numbers. If you ever have an accident on a Sat. afternoon, you don't want to have to wait until Mon. morning to get to your insurance agent for help.
Select an agent or broker other than these folks. Ask around your airport who likes whom as an agent. Get someone who can shop all of the insurance companies, who will give you all of the quotes they get, and let you decide what to buy, after a thorough explanation of each quote.
Also, find someone who publishes contact info, like off hours phone numbers. If you ever have an accident on a Sat. afternoon, you don't want to have to wait until Mon. morning to get to your insurance agent for help.
I appreciate your point of view....
If I'm not mistaken, I got AIG of Oklahoma as a policy
provider/broker from information off this list. Since
they're the bad guys now, what does the Cessna 170
Association reccommend as a whole? I believe I got
a "discount" from AIG of OK for being a 170 association
member (?).
Most "type" aircraft clubs have some sort of arrangement
with a given insurance broker/provider which allows for
discounts & "other considerations" for volume policies as
a result of a number of association folks "flocking" to
said broker for coverage.
If I ask around my airport (not many 170s based there),
I'll get as many answers as I ask people. Same thing
will probably happen here on this list....
So.... who is paying how much for what kind of coverage
with whom?
Bela P. Havasreti
'54 C-170B N170BP
If I'm not mistaken, I got AIG of Oklahoma as a policy
provider/broker from information off this list. Since
they're the bad guys now, what does the Cessna 170
Association reccommend as a whole? I believe I got
a "discount" from AIG of OK for being a 170 association
member (?).
Most "type" aircraft clubs have some sort of arrangement
with a given insurance broker/provider which allows for
discounts & "other considerations" for volume policies as
a result of a number of association folks "flocking" to
said broker for coverage.
If I ask around my airport (not many 170s based there),
I'll get as many answers as I ask people. Same thing
will probably happen here on this list....
So.... who is paying how much for what kind of coverage
with whom?
Bela P. Havasreti
'54 C-170B N170BP
I called AIG yesterday and the conversation was short and to the point. Yes, I was fully covered until my policy expired in August and no, they would not renew the policy in the future. She gave no indication that the situation had any possiblility of changing, ever!
I have a few quotes requested. As they come back I will forward the information.
One qoute was going to be through the EAA Vintage group. I had not looked into them before. Anyone have experience with them? Thanks.
Bruce
I have a few quotes requested. As they come back I will forward the information.
One qoute was going to be through the EAA Vintage group. I had not looked into them before. Anyone have experience with them? Thanks.
Bruce
Bruce Shipp
former owners of N49CP, '53 C170B
former owners of N49CP, '53 C170B
Aviation Insurance Group, Ltd. of Bethany, Ok is an Agent/Broker,...not an underwriter.
AIG (Aviation Insurance Group) is a collective of underwriters who write policies on aviation and aircraft.
They are not the same.
Important note:
Any independent insurance agent who sells aviation policies is probably capable of obtaining a quote from AIG,...who is a reputable, and solid underwriter who enjoys an excellent reputation as a subsidiary of one the world's largest underwriting groups. An agent will usually get your permission to get several quotes from several underwriters, and you will have to give written permission should you decide to change brokers/agents.
AIG (Aviation Insurance Group) is a collective of underwriters who write policies on aviation and aircraft.
They are not the same.
Important note:
Any independent insurance agent who sells aviation policies is probably capable of obtaining a quote from AIG,...who is a reputable, and solid underwriter who enjoys an excellent reputation as a subsidiary of one the world's largest underwriting groups. An agent will usually get your permission to get several quotes from several underwriters, and you will have to give written permission should you decide to change brokers/agents.
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What's the contact info for the good AIG (underwriter)? The only AIG I have info on is the bad AIG (broker),who I incidentally insured with the last tqwo years. Just after the first post on this thread,I received a copy of my policy paperwork,which took effect April 7. The policy is with "Phoenix Aviation Managers,Inc","PAM finance Company" and "Old Republic Insurance Company". An enclosed card sez to report all claims to Phoenix. So I guess AIG Ltd is out of the loop. I'm covered thru next April,anyway.
This AIG vs AIG business is very confusing. Kinda like the Spy versus Sly in the old Mad magazines. My previous policy with AIG Ltd (the bad guys) came in a folder that said "AIG Aviation",which is the good guys. But the policy named "The Insurance Company of the State of Pennsylvania" (with a New York City address!) as the underwriter.
I guess they're one of the "collective underwriters" of the good AIG,that George talked about?
Eric
This AIG vs AIG business is very confusing. Kinda like the Spy versus Sly in the old Mad magazines. My previous policy with AIG Ltd (the bad guys) came in a folder that said "AIG Aviation",which is the good guys. But the policy named "The Insurance Company of the State of Pennsylvania" (with a New York City address!) as the underwriter.
I guess they're one of the "collective underwriters" of the good AIG,that George talked about?
Eric
AIG
Like many of you,I have had a long affiliation with AIG of Bethany, OK. I have probably insured with them for 10+ yrs and to date have had a good relationship. Fortunately however I have not had a need to use my policies. I suspect that the vrs ins co's AIG represents (represented) are reputable co's. My coverage happens to be with The State of Pennsylvania Ins Co out of NY. I have sent them a letter to determine their position on the AIG situation and to see if they have or plan to appoint other agents in my area.
As one in the ins industry, I deal with independent ins agts daily. The company I now work for and all others I have previously worked for appoint agents to represent us and sell and service policy holders. This system is in contrast to the State Farm's, Farmers and other direct writers which includes AVEMCO. Coverages are equally good through both direct writers and independent agents. In our side of the industry if an appointed agent fails financially, or becomes incapacitated via illness, death or the law, those policy holders are still considered insured since they have paid their premiums and the vrs co's will find other agents in the area to pick up and service the inforce policies. It will be interesting to see what both the vrs co's represented by AIG and the Oklahoma Department of Insurance will do regarding AIG's owners' alleged misconduct. Obviously they are considered innocent until proven guilty or is it GREEDY? Meanwhile I am reading what other 170 members are hearing and what markets they are getting quotes from as well as looking around myself to see what other markets may be available at comparable premiums to the AIG policy I have that expires in Sept.
Ole Pokey
As one in the ins industry, I deal with independent ins agts daily. The company I now work for and all others I have previously worked for appoint agents to represent us and sell and service policy holders. This system is in contrast to the State Farm's, Farmers and other direct writers which includes AVEMCO. Coverages are equally good through both direct writers and independent agents. In our side of the industry if an appointed agent fails financially, or becomes incapacitated via illness, death or the law, those policy holders are still considered insured since they have paid their premiums and the vrs co's will find other agents in the area to pick up and service the inforce policies. It will be interesting to see what both the vrs co's represented by AIG and the Oklahoma Department of Insurance will do regarding AIG's owners' alleged misconduct. Obviously they are considered innocent until proven guilty or is it GREEDY? Meanwhile I am reading what other 170 members are hearing and what markets they are getting quotes from as well as looking around myself to see what other markets may be available at comparable premiums to the AIG policy I have that expires in Sept.
Ole Pokey
Rudy, that's the point. The AIG agency previously recommended on this forum are the folks presently being discussed which have gotten into trouble.rudymantel wrote:Bela,
I suggest you contact one of the direct writers such as AVEMCO or AIG
(the underwriters). The latter is the company recommended on this forum.
They are usually very competitve and you deal directly with the company, not through an agent or broker.
Rudy
Remember that AVEMCO has family exclusion limits (usually on the order of $25K). If your most common pax are your family members, you're probably not going to be happy should you ever have to make a claim for their injuries, etc.
Recently, I've also noticed that AIG (the group of underwriters, not the Okla. agency), Phoenix, and others, have been quoting premiums at or less than AVEMCO anyway. The Avemco quotes used to be their great attraction, and is why many would accept their ridiculous family exclusions.
Remember, you can get quotes from your favorite agent from all the available underwriters, and still get one directly from Avemco on your own. Then make the choice.
Recently, I've also noticed that AIG (the group of underwriters, not the Okla. agency), Phoenix, and others, have been quoting premiums at or less than AVEMCO anyway. The Avemco quotes used to be their great attraction, and is why many would accept their ridiculous family exclusions.
Remember, you can get quotes from your favorite agent from all the available underwriters, and still get one directly from Avemco on your own. Then make the choice.