August 13, 2009 11:18 AM Eastern Daylight Time
Chartis’ Light Aviation Division Announces New Insurance Benefit for Pilots
NEW YORK--(BUSINESS WIRE)--Chartis’ Light Aviation Division (LAD) today announced the waiver of the applicable in-motion deductible (up to a maximum of $1,000) on light aviation insurance policies for damage to aircraft resulting from an emergency in-flight deployment of the recovery parachute.

“This is a critical new benefit for pilots who operate aircraft equipped with a recovery parachute system,” said Greg Sterling, Vice President and Division Manager of LAD. “In the interest of aviation safety, we want to eliminate any chance that a pilot might hesitate in deploying the recovery parachute in an emergency because of insurance or financial implications,” Mr. Sterling said.

Prior to this deductible waiver, aircraft owners who deployed the parachute system in an effort to minimize injury, prevent loss of life or save the aircraft from greater damage were responsible for 100% of their deductible. This new waiver applies to all general aviation aircraft equipped with an aircraft recovery parachute system, including the popular Cirrus SR20 and SR22 aircraft.

Cirrus Aircraft Co-Founder Dale Klapmeier noted the significance of this announcement as further validation of a safety system fundamental to Cirrus Aircraft. "We applaud Chartis for its innovative thinking and for its recognition of the importance of this critical safety feature. We engineered the Cirrus Airframe Parachute System (CAPS™) into our aircraft from the very beginning. With more than 3.1 million total hours to date on the worldwide Cirrus Aircraft fleet of more than 4,500 aircraft, 18 CAPS deployments resulting in 35 lives saved speaks volumes about its importance. Cirrus is the only certified airplane with the parachute as standard equipment, and this unique new benefit announced today by Chartis further enhances the experience for Cirrus Aircraft customers and pilots," Mr. Klapmeier said.

Aircraft Owners and Pilots Association Air Safety Foundation President Bruce Landsberg also praised the announcement. "Aircraft equipped with recovery parachutes provide pilots with an additional tool to reduce or prevent injury, and we applaud Chartis for encouraging pilots to use the parachute without fear of financial loss," Mr. Landsberg said.

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