Global insurance company HDI has partnered with the Flight Safety Foundation’s Basic Aviation Risk Standard (BARS) Program to further increase the operational safety of its aviation clients.
As a BARS Member Organization (BMO), HDI will have access to comprehensive de-identified audit and accident analysis data, which will facilitate its risk management strategies. Additionally, HDI’s safety initiatives for brokers and customers will be strengthened by its membership in Flight Safety Foundation, which is included in becoming part of the BARS Program.
HDI’s experts for the insurance of contracted aviation operations recognized that BARS operators better manage their risks and consequently make fewer claims. They also found that both the insurance company and the operators would gain tangible benefits from having third-party assessments of the operators against the BAR Standard.
HDI underwriting teams across the globe will now gain greater insight into the safety performance of operators through the globally recognized safety standard for contracted aviation that the BARS Program provides. The underwriters will receive training on how the program works and how to utilize it for safety initiatives.
HDI General Manager and Global Head of the Aviation Centre of Excellence, Jamie Bowes, commented:
“The BARS Membership will make our clients safer! Joining the program is a win-win situation for all parties being the client, HDI, and the Flight Safety Foundation. Our intention is to sponsor our insureds to go through the program, thus enabling our worldwide aviation underwriters to benefit from the BARS membership by gaining access to global audit data analysis as well as accident and incident data. These insights will help strengthen our position as market lead and allow us to assess insurance risks and respective risk management strategies which will be reflective in our insureds’ insurance premiums.”
BARS further expands its activities in the insurance sector
BARS Managing Director, David Anderson, welcomed the newest BMO:
“Our new partnership with HDI once again demonstrates the growing strength of the BARS Program in the global aviation insurance sector. We are very happy to have HDI on board with us and to work together on our common goal of making contracted aviation safer. Our de-identified data insights are made exclusively available to our BARS Member Organizations, and HDI can now use these insights as a valuable tool in the effective management of their risk in the worldwide contracted aviation services sector.”
