Investopedia

Continue to Site »

United States Aircraft Insurance Group - USAIG

Filed Under » ,
Dictionary Says

Definition of 'United States Aircraft Insurance Group - USAIG'

The nation's first aviation insurance company, founded in 1928 by World War I flying ace Reed McKinley Chambers and pilot David C. Beebe. The United States Aircraft Insurance Group was founded when Chambers realized a need for aviation insurance after the airline company that he had formed - Florida Airways - faced bankruptcy when four airplanes were lost to storms and one accident in 1926. Florida Airways had earned the first private air mail contract awarded by the United States government.
Investopedia Says

Investopedia explains 'United States Aircraft Insurance Group - USAIG'

On July 1, 2003, USAIG celebrated its 75th anniversary. The insurance company is credited with furthering aviation by insuring historic events such as the first B-52 bomber flight, the Boeing 707 prototype, the 1969 lunar module flight, the Boeing 747's first commercial flight, and the development and testing of General Dynamics' F-111A fighter jet. In 1968, USAIG's founder Reed Chambers broke the sound barrier while flying in a Convair F-106 Delta Dart. USAIG also is active in promoting safety in flying, and publishes a series of Safety First posters several times each year.

Articles Of Interest

  1.

    A Look At Single-Premium Life Insurance

    Want to provide for your dependents and finance your own long-term care? Learn more here.

  2. 15 Insurance Policies You Don't Need

    Learn how to save money by saying "no" to unnecessary coverage.

  3. Automatic Cancellation Of PMI When You're Underwater On Your Mortgage

    You might be suprised to learn that after reaching certain criteria, your PMI will be automatically cancelled.

  4. New Year Planning For Business Owners

    Make a resolution to start your business off on the right foot in the new year.

  5. 4 Of The Most Shocking Stock Increases and Falls

    When a black swan event occurs, a market correction of massive proportions ensues.

  6. A History Of Apple Stock Increases

    Apple's innovative products are always in demand, but do Apple's product launches immediately lead to higher prices?

  7. Reasons Renting Is Better Than Buying

    Owning a home is much more expensive than renting. Here are the places where the costs differ greatly.

  8. Corporations Kicked From The Dow Jones

    The Dow measures the economic condition of the United States. Here are some corporations that have fallen out of favor.

  9. The Hidden Costs Of Wedding Insurance

    Weddings don't always go smoothly. Here's how you can protect yourself from things backfiring.

  10. Companies That Collaborated With Nazis

    Bayer, Siemens and IG Farben are just some of the companies that had business dealings with the Nazis.
comments powered by Disqus
Marketplace
Hot Definitions

  1. Fool In The Shower

    The notion that changes or policies designed to alter the course of the economy should be done slowly, rather than all at once.

  2. Pattern Day Trader

    An SEC designation for traders who trade the same security four or more times per day (buys and sells) over a five-day period, and for whom same-day trades make up at least 6% of their activity for that period.

  3. Cost-Push Inflation

    A phenomenon in which the general price levels rise (inflation) due to increases in the cost of wages and raw materials.

  4. Happiness Economics

    The formal academic study of the relationship between individual satisfaction and economic issues, such as employment and wealth.

  5. Affluenza

    A social condition arising from the desire to be more wealthy, successful or to "keep up with the Joneses." Affluenza is symptomatic of a culture that holds up financial success as one of the highest achievements.

  6. Icarus Factor

    The term Icarus factor describes a situation where managers or executives initiate an overly ambitious project which then fails. Fueled by excitement for the project, the executives are unable to reign in their misguided enthusiasm before it is too late to avoid the failure.
Trading Center