Reports are floating around out there that COPA’s
insurance program is dead. Not True! Please read on.
COPA’s insurance program is managed by Marsh Canada and underwritten by the
Co-operators General Insurance Company in Canada. Our current policy holders are
fully protected for all and any claims by this arrangement.
So what has changed?
Tryg-Baltica, who is a re-insurer for our program, will cease underwriting
the COPA program as well as all other aviation business world-wide.
So what does this mean?
COPA and Marsh will find a replacement underwriter for our program in the
next few weeks so that we can continue to offer Silver Wings coverage beyond
Dec. 31, 2003 and Gold Wings beyond the expiry date of existing policies.
So what about current policies?
For members with current Silver and Gold Wings policies, they will be
honoured until their expiry dates.
So what about new policies and renewals?
Applications for Silver Wings coverage (not-in-motion hull, third party
liability, work-in-progress, hangar liability, non-owned hull and passenger
coverage) will continue to be handled by Marsh Canada and underwritten by
Tryg-Baltica until Dec. 31, 2003. Please note that all Silver Wings policies,
including new ones, expire on Dec. 31, 2003, just as they have always done.
Requests for new quotes and renewals under the Gold Wings plan (in-motion hull,
third party liability, hangar liability and passenger coverage) will also be
handled by Marsh until the end of the year and underwritten by Tryg-Baltica for
one year from the date of acceptance. However, if Marsh has to go to
Tryg-Baltica for approval of an unusual request as they did in the past, they
will now attempt to obtain quotations from the traditional domestic marketplace
as they have always done for those turned down by Tryg-Baltica.
COPA staff is working closely with Marsh Canada on alternatives for the COPA
program so that we can continue this highly successful program. Check the COPA
web site for the latest information as it becomes available.