The Libya Aviation Forum 2022 (November 6-8 at the Corinthia Hotel in Tripoli) is to come up with concrete recommendations to help activate the aviation sector which can help activate many other sectors of the Libyan economy, said said Deputy Transport Minister Khaled Swesi in the event’s opening speech. and opening speech. He said the aviation sector is vital for several other sectors.
International provision of aviation insurance for Libya
Khaled Alabed, director of aviation insurance at Libya Insurance, Libya’s largest insurance company, said international insurance and reinsurance companies “have lost the desire to provide cover for Libya’s aviation sector”. This left only a few players, which reduced competition.
He provided a formula for Libyan airliners to help attract more insurance companies. This included visits to London (the center of global insurance), providing more detailed data on their assets, personnel and activities and paying premiums on time. He prescribed that better data can lead to better insurance and lower premiums. Good data attracts A-rated insurance companies.
EU flight ban on Libya lifted
He said the lack of timely government funding was contributing to the lifting of the EU flight ban. Alabed insisted that no Libyan entity can lift the EU flight ban against Libya. He said it had to be a joint effort of Libyan insurance companies, airliners, civil aviation and the Libyan government. This joint effort would reduce Libya’s airline insurance premiums.
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