Strong Member Companies – Even Stronger Together
United States Aircraft Insurance Group and Canadian Aircraft Insurance Group each comprise a pool of highly rated property casualty insurers. United States Aviation Underwriters, a licensed New York agent, serves as manager for USAIG. USAU’s Canadian subsidiary manages the CAIG pool. Every policy written through USAIG or CAIG uses capacity that is admitted in all 50 United States or throughout Canada.
Each member company must meet minimum ratings requirements – at least an “A” rating with either A.M. Best or Standard & Poor’s and hold a required statutory surplus of $1 billion or greater. In addition, we go the extra step of requiring each member company, through a security agreement, to fund a trust account to meet 100 percent of their respective net liabilities. An advisory council oversees the business and security of both USAIG and CAIG. In addition, a security committee oversees the security monitoring process. Additional security requirements are triggered in the event that a member company experiences a change in its published financial condition rating or its required statutory surplus.
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|AIRLINE, GENERAL AVIATION AND MANUFACTURING PRODUCTS– AVIATION GROUP|
|Member Companies||% Share of Capacity||Ratings|
|Columbia Insurance Company*||50%||AA+||A++||AA+||Aa1|
|ACE American Insurance Company||50%||AA||A++||AA||Aa3|
*Issues policies through National Liability & Fire Insurance CompanyPrinter Friendly Version