It is all too apparent that $1.5 million does not go very far when it comes to repairing or replacing an aircraft. Back to insurance: GSPs buy it for their share and airlines buy it for their share. It is expensive because of the amount of damages that are occurring. How can we bring down those damages? Figure out what the root causes are and fix them. Simple as that. It’s known as risk management.
Getting ISAGO registered is a win-win proposition. While IATA is presently funding the corporate cost fee of the audit and insurers are willing to recognize the effort (in terms of keeping your premiums down), it only makes sense to invest in it. Although it will require some organization, some determination and some cultural changes, the idea is to make GSPs and airlines better off with ISAGO than without it.
For more information, please visit the ISAGO website: www.iata.org/ps/certification/isago