KENNESAW, Ga., Feb. 19, 2013 /PRNewswire/ -- Phoenix Aviation Managers announced today that for the third consecutive year it will pay out a cash dividend to NBAA Member Companies participating in the NBAA Workers' Compensation Insurance Program for 2012. Participating Members have received nearly $2 million since the program's inception.
The NBAA Workers' Compensation Insurance Program was introduced in 2009 to provide access to high-quality coverage at competitive rates for NBAA Member companies. The program is independently underwritten by Phoenix Aviation Managers on behalf of Old Republic Insurance Company.
"We are delighted with the results of this insurance program. In addition to receiving competitive premiums, the participating NBAA Members earned an average of a 17.5% cash dividend for three consecutive years due to the excellent loss experience of the group," stated Phoenix Aviation Senior Vice President and Workers' Compensation Manager Craig Benn. "We are approved in all available states which makes Phoenix Aviation a preferred workers' comp. provider for aviation businesses operating in multiple locations."
All NBAA Members who operate aircraft are eligible for this insurance program regardless of size or Member category. This includes all size flight departments, from single aircraft operations to multi-aircraft flight departments. Policies cover everyone involved within the company's flight operation including pilots, maintenance technicians, flight attendants, flight department managers, aircraft operators and administrative personnel. In addition, there are provisions for companies using contract pilots, contract flight attendants and other contract crew.
NBAA Member companies that are not participating in the Workers' Compensation Insurance Program, but would like to know more should contact their insurance agent or visit www.pamav.com. If you are not currently a NBAA Member, but are interested in participating in the program, join the NBAA today at www.nbaa.org/join.
Dividends are declared by Old Republic's board of directors and are dependent upon the group loss experience and therefore cannot be guaranteed. Past dividend experience should not be used to predict future performance.
About Phoenix Aviation Managers
Since 1983, Phoenix Aviation Managers, Inc. has been serving the aviation community by offering a wide range of insurance products through independent insurance agents and brokers. Phoenix Aviation Managers is a wholly-owned subsidiary of Old Republic International Corporation. Insurance contracts underwritten by Phoenix Aviation Managers are issued by Old Republic Insurance Company. For more information, visit www.pamav.com.
Founded in 1947 and based in Washington, D.C., the National Business Aviation Association is a leading organization for companies that rely on general aviation to help make their businesses more efficient, productive and successful. NBAA represents more than 9,000 companies and provides more than 100 products and services to the business aviation community, including the NBAA Annual Meeting & Convention, the world's largest civil aviation trade show. For more information, visit www.nbaa.org.
SOURCE Phoenix Aviation Managers, Inc.