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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(TM) wink 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 auto insurance rate prevent injury, and we applaud Chartis for encouraging pilots

to use the parachute without fear of financial loss," Mr. Landsberg said.

Aircraft owners can contact the Light Aircraft Division at (800)

523-5266 or lad-e@chartisinsurance.com,

or their aviation insurance professional for more information.

About Chartis

Chartis is a world leading property-casualty and general insurance

organization serving more than 40 million clients in over 160 countries

and jurisdictions. With a 90-year history, one of the industry's most

extensive ranges of products and services, deep claims expertise and

excellent financial strength, Chartis sr22coverage.com enables its commercial and

personal insurance clients alike to manage virtually any risk with

confidence.

Chartis is the marketing name for the worldwide property-casualty and

general insurance operations of Chartis Inc. For additional information,

please visit our website at http://www.Chartisinsurance.com.

All products are written by insurance company subsidiaries or affiliates

of Chartis Inc. Coverage may not be available in all jurisdictions and

is subject to actual policy language. Non-insurance products and

services may be provided by independent third parties. Certain coverage

may be provided by a surplus lines insurer. Surplus lines insurers do

not generally participate in state guaranty funds and insureds are

therefore not protected by such funds.