HUB International, a full-service global insurance brokerage and financial services firm, has launched HUB Private Client Aviation Risk Advisory Services to support HNW and UHNW clients with proactive counsel from aviation specialists on important aircraft insurance considerations such as age, condition, usage and storage of equipment, maintenance requirements and pilot experience.

With the private aircraft industry growing an estimated 7.3 per cent to nearly $25bn in 2024, combined with evolving aviation regulations, pilot shortages and inventory and replacement parts limitations, the importance of working with aviation advisory experts is critical to ensuring compliance and safety while preserving the investment.

“HUB’s Private Client Aviation Risk Advisory Services team helps our clients evaluate their insurance options before making a purchase, committing to a lease or chartering a plane so they can better determine the total costs, risks and insurability of any potential aircraft,” says Katherine Frattarola, executive vice president and head of HUB Private Client. “This is an area where HNW clients can easily make the wrong choice, and when they do, the consequences can be severe.”

HUB Private Client Aviation Risk Advisory Services offers highly customised solutions for every aspect of buying, leasing or chartering private aircrafts, including:

- Recognising required maintenance on older aircraft that could negate initial savings and aircraft insurable/replacement value

- Evaluating pilot experience and the impact on securing competitive insurance coverage

- Ensuring liability levels to cover risks commensurate with the type of passengers typically on board

- Determining replacement part availability before purchase and the impact on the aircraft's active flying schedule

- Implementing regular reassessments of the hull value of the aircraft and adjusting insurance coverage levels while minimising risks

- Determining aircraft management by a qualified management company or personal maintenance.