SterlingRisk Insurance, a privately owned insurance brokerage firm, now offers trip interruption coverage as part of its recently launched 'aircraft business income' product for the private jet charter industry.
This coverage is designed to protect the charter operator and charter broker from the ‘extra expenses’ incurred for food, hotels and travel through a replacement charter aircraft necessary to fulfill the charter obligations to their customers.
"Unscheduled maintenance can put an aircraft out of service and the resulting extra expenses associated with a last minute replacement charter aircraft will eat into the bottom line revenue of both the charter operator and charter broker," said Carl Shephard, SterlingRisk’s Aviation Division President.
"Our trip interruption package protects the bottom line for both businesses without compromising the trip expectations of the customer."
Founded in 1932, SterlingRisk employs more than 210 highly skilled insurance professionals, with offices in New York, New Jersey, Connecticut, Florida, Utah and California.
The company specializes in multiple areas including property and casualty insurance, aviation, employee benefits consulting, risk management, loss control, claims management, estate planning and business succession planning.