HDI enters into partnerships to increase aviation risk levels

HDI, a global aviation insurer, has joined the Flight Safety Foundation's Basic Aviation Risk Standard (BARS) Program as a new member.

The company said it joined the program to improve operational safety for its airline customers.

Aviation Risk Standard Basic Plan

The BARS program provides access to anonymized research and risk data, which HDI plans to use to improve its risk management strategies.

As a BARS Member Organization (BMO), HDI will also strengthen its security programs for brokers and policyholders.

Membership in the Flight Safety Foundation is also included with the BARS program, which offers additional safety precautions.

Benefits of joining the Basic Aviation Risk Standard Program

HDI's aviation insurance experts have found that operators participating in the BARS program tend to manage risk more effectively, resulting in fewer claims. Additionally, third-party evaluation of these operators against the BAR Standard provides valuable insight for both insurers and operators.

HDI's underwriting teams will benefit from in-depth knowledge of contracted operators' safety operations. These teams will receive training in using the BARS framework to support safety programs and improve their understanding of global aviation risks.

Jamie Bowes (pictured), general manager and global head of aviation excellence at HDI, explained that the partnership will:

• improve the safety of the company's customers
• strengthen its writing skills
• it provides access to valuable data that can allow a company to assess risks more accurately

“BARS membership will make our customers safer! “Joining the program is a win-win situation for the customers, HDI, and the Flight Safety Foundation,” said Bowes.

BARS expands operations in the insurance sector

David Anderson, managing director of the BARS program, welcomed HDI as a new partner. He pointed out that HDI's participation highlights the growing importance of this program in the aviation insurance sector.

“Our new partnership with HDI further demonstrates the growing strength of the BARS program in the global aviation insurance sector. We are very happy to have HDI with us and to work together in our common goal of making contracted aircraft safer,” he said.

BARS provides de-identified research data and safety performance information to its member organizations, which insurance companies like HDI can use to improve their risk management processes.

“Our de-identified data is made available only to our BARS Member Organizations and HDI can now use this data as an important tool in effectively managing its risk in the global contract aviation services sector,” said Anderson.