Allianz Commercial has partnered with Allianz Global Corporate & Specialty (AGCS), a member of Allianz Group, to offer aviation products liability solution for commercial customers.
The insurance covers manufacturers or maintenance organizations against liability arising out of products sold, serviced or supplied.
The coverage also include grounding cover – the risk of all aircraft of a particular type being grounded following an accident, with consequent liability upon a manufacturer or maintenance organization for loss of use to the owners of undamaged aircraft.
Under the new arrangement, Allianz Commercial will offer the liability coverage through its regional network to AGCS aviation products.
The new offering will be underwritten by AGCS’ specialist aviation underwriting team and will be offered to clients via commercial select policy of Allianz Commercial.
Allianz Commercial head of property and casualty Steve Coates said, “As a result of this tie-up, for the first time regional brokers will have access to this specialist cover and the ability to combine it with clients’ other commercial insurance products into one policy.
AGCS aviation underwriting manager Craig Armitage said that this development reflects the strength and expertise that Allianz possesses in the UK market.