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Introduction to Aviation Insurance and Risk Management, by Alexander T. Wells and Bruce D. Chadbourne, 2000, Malabar, Fla.: Kreiger Publishing Company
Reviewer: Louis E. Nunez, Reliance Insurance, Aviation Division
This is the second edition of a text I had read in 1992 and is one of the few devoted to the aviation line of business. The two authors were previously published under the auspices of Broward Community College in Florida. The text likely had its greatest use at Embry-Riddle Aeronautical University, where both professors are now affiliated. The text serves as the primary source of material for the Certified Aviation Insurance Professional (CAIP) designation issued by the Aviation Insurance Association (AIA).
The book's objective is to familiarize the insurance generalist, aviation insurance student, and aviation professional with the fundamentals of insurance, risk management, and (specifically) aviation insurance. The objective aspects of the text are straightforward and as up-to-date as possible considering the volatility of the subject matter. The subjective aspects are kept to a proper minimum, which is laudable for a line of business that is by nature subjective and largely unregulated.
The structure of the book is akin to the Insurance Institute of America (IIA) formula, and there is a subtle hint of admiration for this academic style. This is good for two reasons: (1) the CAIP program encourages pursuit of Institute course work and (2) the authors are demonstrating a desire to offer the reader/student the best possible approach for learning.
The methodology employed proves to be very functional. The material is thorough, concise, and clear on subject matter and support. Although I have spent 17 years of my career within the aviation discipline, I found it refreshing to go over fundamentals again-especially when they are as well written as in this text....