In today’s episode, Chip is joined by Jamie Madonna, the Managing Advisor in AHT’s Seattle office. Jamie has extensive expertise in creating innovative insurance solutions primarily for the aviation, manufacturing, and technology industries. He is also a private pilot.
As AHT celebrates its 100th anniversary, it has been operating as an employee-owned insurance brokerage and consulting firm offering property and casualty, employee benefits, retirement, and personal and international services for a wide range of industries – boasting national recognition for its practices in areas including technology, manufacturing, government contracting and nonprofits.
In the episode, Jamie states the benefits an individual, agency owner, principal, or organization stands to garner as a member of the RiskProNet community.
The company, AHT, is rooted in their specialty thus providing unwavering value, integrity, and excellence because they understand deeply what risks are there to the Industry and what they can do from an insurance coverage perspective whilst remaining client-centric.
Jamie also expands on the synergy between his specialties; working with companies in technology, aviation/aerospace, and manufacturing industries. And as a specialist in the named niches, he may start creating a product the market doesn’t know they need and also encourage underwriters on either side to add that coverage or consider partnering with other firms to add that coverage to their products.
During the episode, he dives into the type of clients they are currently working with, the newest thing in the marketplace (UAV), the new technologies such as electric propulsion, and the traditional and modern placement of aviation insurance.
Tune in as Jamie informs us of the Insurance Brokerage and Consulting firm that has achieved superior status with many carriers.
Coverage Specialties with AHT Insurance Transcript
00;00;02;01 – 00;00;18;29
Chip Arenchild
Welcome to Know Your Risk and Insurance Coverage with Risk Pro Net, where we will discuss all things insurance for you and your company. Risk Coronet is a network of independent agencies who offer specialized insurance across business sectors.
00;00;19;01 – 00;00;41;19
Chip Arenchild
Regardless of where you are in your insurance journey. We want to invite you to join us to think about insurance differently. Know your risk and insurance coverage with risk Pro Net provides answers to all your insurance questions. Good afternoon, everybody, and welcome to Know Your Risk and insurance coverage with Risk Pro Net. And today we’re excited to talk to Jamie Madonna.
00;00;41;19 – 00;00;56;06
Chip Arenchild
And he’s with IHT, a member agency that he happens to be in Seattle. But they also have offices in DC, the DC area, Chicago and New York. And so, Jamie, we’re glad to have you join the program today. How are you doing?
00;00;56;08 – 00;00;58;21
Jamie Madonna
I appreciate you having me, Chip. I’m doing good.
00;00;58;24 – 00;01;14;09
Chip Arenchild
Well, good. Very good. Hey, one of the things we like to ask members when we get started here is what’s the benefit to you being a member and risk pro net. And what does it bring to you as an individual producer? You obviously are involved with the organization as well. And then also for the firm.
00;01;14;11 – 00;01;38;19
Jamie Madonna
Yeah, I think for me there’s so many facets of risk pro net that are interesting and you can learn a ton from, you know, we get together annually in person, multiple meetings throughout the year when current events are happening. Like Covid was a great example of, you know, agency owners and principals coming together and really just talking about the issues, not only in their market but in other markets that they operate in.
00;01;38;21 – 00;01;57;17
Jamie Madonna
And as as simple as understanding pay scales within your market for different hires, you know, coverage specialties, you know, like we’re going to talk about today, you know, especially in areas where we may not perhaps have an expertise, but we’re either interested in getting into them or just looking for somebody to partner with on a couple deals here and there.
00;01;57;20 – 00;02;15;26
Chip Arenchild
Right? I think I would I would echo that. Exactly. And I think the what you mentioned is still probably the most important for us, as well as the the ability to reach out, talk to people in other parts of the country, see what they’re experiencing compared to what you’re experiencing, and get some help if you need it and allows things to go smoothly.
00;02;15;26 – 00;02;24;17
Chip Arenchild
So I would echo the same thing you mentioned specialization. And one thing that it is known for is specialization. Isn’t that right?
00;02;24;19 – 00;02;41;02
Jamie Madonna
No, that’s absolutely our platform is built and our success has been completely, because of our industry, deep industry specialization and that, that, that goes way back in our history and into the, well, probably into the 80s, and started with technology, specifically.
00;02;41;09 – 00;02;50;26
Chip Arenchild
Okay. And speaking of history, I do believe that it is getting ready to celebrate their 100 year anniversary is, That’s pretty that’s pretty remarkable.
00;02;50;28 – 00;03;01;23
Jamie Madonna
Pretty amazing. Yeah, really, 100 years ago now, I mean, things looked a little differently, and the people have changed over, but the company has survived, most of that 100 years being a private, independent company.
00;03;01;27 – 00;03;10;19
Chip Arenchild
Yeah, well, I think it’s exciting. I hope you guys have a good party for everybody. That’s quite an achievement, right? A century is a long, long time, no matter what you’re doing. Right. It’s a long and.
00;03;10;19 – 00;03;14;15
Jamie Madonna
We still have some of the family members that are still involved. Which is, which is which is neat.
00;03;14;16 – 00;03;33;22
Chip Arenchild
Yeah. That’s really neat. Yeah. When you talk about specialization, though, let’s talk about what value does that bring to your clients when you when you guys talk about, hey, we really are focused on being able to get deep into an area. What does that mean for your clients that used to do business with aged because of that specialization?
00;03;33;24 – 00;03;56;00
Jamie Madonna
Yeah. You know, the specialization means we’re basically have chosen to be industry experts, right? So if it’s, manufacturing, for example, we we understand really deeply what a manufacturer is going through, what their real risk is going to be. Cyber within manufacturing is a great example, right? Cyber insurance has been around ten, 15 years. We’ve been talking about it now.
00;03;56;00 – 00;04;25;15
Jamie Madonna
It’s it’s really prevalent. Well, cyber insurance policies weren’t free in the beginning. Really developed to be specific to manufacturing. And they do cover unauthorized access and sort of computer failure issues. But it really doesn’t didn’t address issues like what happens if you, you know, your, machinery gets hacked and starts operating or catches on fire, right? There’s a there’s an actual property damage there which cyber policies originally didn’t cover property damage.
00;04;25;15 – 00;04;40;07
Jamie Madonna
They just covered sort of the financial loss and whatnot. So what we try to do in all these specialties is understand very deeply what the risks are to that industry, and then see what we can build if it’s not already out there from an insurance coverage perspective.
00;04;40;10 – 00;04;59;10
Chip Arenchild
Right. And so you’re really, taking that idea of being not only a consultative broker, but a risk advisor and really amping it up one more level, right, to be able to dive deeply into that business. And I you know, we’ve talked a lot about cyber on this podcast and really using that, that example you just gave when the, Colonial Pipeline was hijacked.
00;04;59;10 – 00;05;09;26
Chip Arenchild
Right. The whole market’s driving upside down just because, you know, no one thought about it. Then it happens and it’s like, holy. Oh, we got problems here. Right. So and now the whole thing’s upside down.
00;05;09;28 – 00;05;33;25
Jamie Madonna
Yeah. And I think with with industry specialization, you dig deeper with underwriters, you have to understand which carriers can really put, coverage forms out there with terms and conditions that actually meet those needs. So often, you know, it’s easy for you. You know, I think the generalist broker to say, well, I can, you know, I can I can do construction, you know, I can underwrite a construction risk.
00;05;33;27 – 00;05;55;02
Jamie Madonna
You know, it’d be crazy for me to I mean, I’ve been insurance 20 years now, roughly 20 years. I still wouldn’t go underwrite a construction company. I just don’t understand it well enough. I don’t necessarily have the insurance carrier and underwriter, contacts to know that I’m doing the best job for that. That client. So that that’s that’s kind of how we look at it.
00;05;55;04 – 00;06;16;09
Chip Arenchild
Yeah. I think it’s a good point. And I think most people are starting to realize that knowledge just continues to get lower and lower on, in available into organizations. Right. And so you we are just always more and more, more clients that have more knowledge and are requiring more of us to help satisfy their questions. And it sounds like that specialization certainly helps.
00;06;16;12 – 00;06;17;14
Jamie Madonna
Right? Yeah.
00;06;17;17 – 00;06;37;24
Chip Arenchild
So in terms of specializations, I happen to know that Jamie specializes in aviation, and he’s one of our go to people within the risk prone network, if not the go to person for any type of aviation risk. And so, Jamie, I know you specialize in aviation and manufacturing and technology. At some point today, I’d like to talk about how those three things are starting to intersect.
00;06;37;24 – 00;06;42;12
Chip Arenchild
But let’s talk a little bit about aviation. You also are a pilot, aren’t you?
00;06;42;15 – 00;07;02;00
Jamie Madonna
That is correct. So one of the things that got me into insuring aviation, risks, is because I felt a little bit underserved as a, as a pilot out there. And over time, we were sending some of our business to other brokers. And, you know, it’s like anything, you just don’t get the service that you think you can put out there.
00;07;02;00 – 00;07;17;20
Jamie Madonna
And so we said, we’re going to we’re going to jump in and start going down that path. Very unique marketplace. You know, there’s a isolated group of insurance carriers and very select underwriting group, if you will, that that serves that community.
00;07;17;22 – 00;07;36;25
Chip Arenchild
Yeah. I think the point you brought up earlier about you can be a generalist and write that policy. I think we see that in aviation. I think, local brokerage firms, they have a client that buys a plane or something, comes up around aviation, and they think they can get that done. And yet in reality, that’s one I would never feel comfortable trying to do.
00;07;36;25 – 00;07;53;17
Chip Arenchild
I don’t even understand the terms. Right. And so that’s specialization then I’m sure that market being so narrow goes through all kinds of ups and downs. And if I’m not mistaken, it’s been a hard market inside the aviation. And it came out of pretty abruptly, did it? Not a few years ago.
00;07;53;19 – 00;08;17;07
Jamie Madonna
Yeah it did. It’s interesting, you know, in talking to some of the underwriters that have been doing this for, you know, probably since the beginning, 15 plus years of underwriting, the last. So take out the last three years, the decade before that, underwriters were operating at a loss for those ten years. So for every dollar they were collecting in premiums, they were paying out dollars, $5, ten.
00;08;17;09 – 00;08;39;12
Jamie Madonna
And so finally, we got to a point. There was a number of catastrophic events that led us there. Boeing being one of them with the, the Max, where, you know, they had so many groundings and then the two, two big, airline crashes. But all of that led to this really hard market. And a couple of key reinsurers pulled out of the market.
00;08;39;14 – 00;09;00;06
Jamie Madonna
And they said, look, we can’t we can’t continue to operate at a loss. We’re getting out of this business. And, and so some of the insurance carriers that, you know, people would know sort of the run of the mill insurance carriers either reduced capacity, were restricted because of their reinsurance covenants. But either way, that created a hard market almost, almost overnight.
00;09;00;06 – 00;09;22;00
Jamie Madonna
So people were seeing, you know, 30 to 70% increases. And that’s really tough, especially on the mom and pops that are operating, you know, back country or up in Alaska was it was really, tough market for them. Good news, though, is that we’re kind of at the end of that. So I’d say this year, you know, I’m not going to say it’s a soft market, but it’s definitely stabilize.
00;09;22;03 – 00;09;40;26
Jamie Madonna
And, you know, I’d say 5 to 10% increase. Sorry to say that. You know, some people think that’s astronomical, but compared to what we were seeing, it feels like it’s leveled off. And in some cases we’re seeing actual flat renewals. And actually a return to better terms and conditions to operate under.
00;09;40;29 – 00;09;57;09
Chip Arenchild
I’m glad to hear that. Maybe that’s, forecast for the rest of the marketplace. I do think it’s interesting when for so long we’ve been in this, what we call in the industry a soft market, but for clients and to have this pricing that was either always going down or not moving. And it was that way for year after year after year.
00;09;57;09 – 00;10;17;18
Chip Arenchild
And, and lots of business owners have only known insurance to be doing that. And then when we have this flip like that, that it is dramatic and it’s shocking and no one understands it and it’s difficult. Bright spot to be in. What types of clients in the aviation you mentioned a little bit about backcountry. I think you do some helicopters, some other fixed based operators.
00;10;17;18 – 00;10;25;02
Chip Arenchild
I mean, when someone thinks about aviation insurance, what is that? What does that cover just anything with the plane or who should be thinking about that?
00;10;25;05 – 00;10;52;10
Jamie Madonna
Yeah, I mean, it actually that’s a great question because it runs deep. Most people think of sort of the regional airline or air carriers, which we refer to as part 121. That is a great section of the market. Most of those big airliners, it’s it’s a very complicated risk, which we actually don’t typically get involved in. But we would start to operate in that kind of what we call part 135 and part 91, which are kind of charter and owned aircraft.
00;10;52;12 – 00;11;12;25
Jamie Madonna
And then if it is regularly scheduled, the air carriers are going to be operating a much smaller aircraft, you know, less than 40 seats. Some of it can be up in the back country. So the charter operators that are taking hunters or guides into locations, rafters into locations. And then when you talk about Alaska, that’s that’s sort of the way of life up there.
00;11;12;25 – 00;11;34;06
Jamie Madonna
Right? So it’s very rugged terrain. So moving around up there often includes aircraft of all different kinds. And then you can take it all the way to a company that buys an aircraft for their, you know, management to use, so it can be an owned aircraft within a manufac touring company or construction company. That’s also, business that we would get involved in.
00;11;34;08 – 00;11;59;13
Jamie Madonna
And then the newest thing is, is UAV so unmanned? And then new technologies such as electric propulsion, hydrogen, you know, it’s changing rapidly. And I often thought it’s going to be a long time before I see that stuff take flight. But it seems like the FAA right now is, is is encouraging it. And part of that is because there’s such a push and there’s so much money being spent in that space.
00;11;59;13 – 00;12;02;02
Jamie Madonna
So we’re seeing a lot of that type of work.
00;12;02;05 – 00;12;14;00
Chip Arenchild
Do you see a lot of that technology by being in Seattle? And I know Seattle obviously has a huge aviation history. Do those is that kind of a hotbed for some of that stuff to come together? Is there is there a synergy there?
00;12;14;02 – 00;12;31;03
Jamie Madonna
There definitely is in Seattle, although I would tell you we’re seeing seeing it out of California, we’re seeing it, on the East Coast as well. But I would say and it’s partly because I’m here. And so I’m kind of connected, that community that I’m definitely seeing, some of that. And I have a couple clients that dabble in that.
00;12;31;03 – 00;12;44;12
Jamie Madonna
They do some flight testing. And so often when somebody has a product that’s they’re thinking about trying to get to market, they’ll go through this company to to help with the, you know, sort of a consultation on flight testing when they get to that point.
00;12;44;14 – 00;12;54;22
Chip Arenchild
And how about, here we’ve seen a lot with firefighters in helicopters. Is that something same same idea. Right. That’s, helicopters would fall into that aviation as well.
00;12;54;24 – 00;13;14;16
Jamie Madonna
It would. Yeah. Yeah. And that’s a little bit unique. There’s definitely some, nuances to the firefighting side of things. We do some helicopter, you know, rotor wing type work. We haven’t gotten into that side of it yet. It’s not saying we couldn’t. We just haven’t yet had and haven’t had those opportunities yet. But that’s a big market.
00;13;14;18 – 00;13;34;20
Chip Arenchild
Yeah, market. And we’re watching that here in California. And I also have done some heli ski trips where it seems the person that rents the helicopter for the skiing operation is just using the ship, during the winter months, they’re renting it to the operation. But the normal use for that pilot in that ship is, either using as a crane to place things are doing firefighting.
00;13;34;20 – 00;13;38;29
Chip Arenchild
And so I’ve, I’ve learned a little bit about the helicopters. I find it fascinating.
00;13;39;02 – 00;13;46;02
Jamie Madonna
Right. Yeah, I know, and it’s funny because I’m sitting here looking outside and it’s smoky here in Seattle. So those firefighters are up there working hard today.
00;13;46;02 – 00;14;05;06
Chip Arenchild
Yeah. That’s well hopefully they come to an end. So now what about mashing these three things up. You specialize in aviation. You specialize in manufacturing and you specialize in technology. What are you seeing around those three specializations and the synergy between them. And how are you helping to provide some assistance there?
00;14;05;09 – 00;14;26;20
Jamie Madonna
Yeah, I think some companies, you know, a lot of the way a lot of brokers work, especially in the aviation space, they’re primarily focused on that, just aviation and where I have found a niche for myself is that that’s not there’s so many new technologies coming out, and most people are thinking, you know, at least in the new technologies are manufacturing something.
00;14;26;20 – 00;14;54;08
Jamie Madonna
They’re manufacturing a, a UAV or they’re manufacturing, a motor of some kind that’s going to be used in flight. So then it crosses over in aviation. So you’ve got the manufacturing exposure of, the manufacturing product liability risk, and then you’ve got technology perhaps operating the UAV. So, there’s a crossover there with how do you ensure the technology or the failure of the technology.
00;14;54;10 – 00;15;14;10
Jamie Madonna
That truly isn’t the product itself, right? It’s a product. But as you and I know, it’s it’s insured differently, more of an errors and omissions type coverage. And then you’ve got it flying around. So there’s really three parts to some of these UAV companies. And how you want to look at insuring them. And sometimes you can get the aviation markets there.
00;15;14;12 – 00;15;35;10
Jamie Madonna
They’re beginning down that path of understanding the errors and omissions of professional liability side. There’s not too many of those insurers that are ensuring that today, but a few of them have started to come around. They haven’t added cyber to that yet. So we’re still buying cyber in what I would consider more of our technology or traditional marketplace, not the aviation marketplace.
00;15;35;12 – 00;15;50;07
Jamie Madonna
So having that expertise to kind of know when you can take an aviation carrier or underwriter or product and use it, versus when you would use kind of a non aviation carrier or product and and bring it into a company.
00;15;50;14 – 00;16;01;13
Chip Arenchild
It sounds like that goes back to what you started with earlier, that as a specialist in working in a specialization, you made me start to creating product that the market doesn’t even know they have to have.
00;16;01;16 – 00;16;13;16
Jamie Madonna
Right, right. And then encouraging some of the underwriters that are perhaps in one side of that or the other of, you know, adding that coverage or considering partnering with another firm to add that coverage into their product.
00;16;13;18 – 00;16;21;05
Chip Arenchild
That’s super fascinating, right? It must be fun. Must be a lot of fun to work in something that is so dynamic and changing all the time.
00;16;21;07 – 00;16;38;07
Jamie Madonna
To amazing to, you know, you hear these, you know, oh yeah, we’re going to start delivering things by drone. And you know, when I first heard that I’m like, oh that’s come on as a private pilot. First of all that’s scary because now all of a sudden you’ve got things flying around that, you know, may or may not detect me, the technology’s there for it to detect me.
00;16;38;07 – 00;16;50;07
Jamie Madonna
But anyway. And now you’re starting to see where companies are not there past the testing stage. We know it works. It’s just figuring out how to incorporate it into the airspace and into a business.
00;16;50;09 – 00;17;06;02
Chip Arenchild
How far out is some of that stuff? And what do you think goes first? Like, you know, we talk about driverless cars and maybe it’s going to be driverless trucks that go first on dedicated halls where you can predict, you know, it’s straight or whatever the case may be. What do you what do you see coming with drone delivery?
00;17;06;04 – 00;17;25;12
Jamie Madonna
Yeah, I think the drone delivery is probably closer. And, but I think it’s going to have to be in some of these marketplaces that are, you know, a little more, spread out. You know, the urban sprawl is real. And so I think, you know, it makes a lot more sense to send a drone out to some of these farther, deliveries in than a truck with fuel.
00;17;25;13 – 00;17;43;03
Jamie Madonna
I mean, it’s just so expensive, right? So I think that kind of would be my guess as to where we start to see it more often. And it’ll be hard. It would be hard to see in the cities just because they’re so busy that, you know, especially I’m thinking just Seattle. As I look out the window, I’m like, well, there’s a lot of general aviation that’s going on around here.
00;17;43;03 – 00;17;57;18
Jamie Madonna
A lot of people flying around. Yeah. Kenmore area northwest see planes. Yeah. These flow planes going around, you know, people flying their own planes. You get SeaTac airport. How do you add drones into that mix, right. Or UAVs and keep it safe?
00;17;57;20 – 00;18;11;19
Chip Arenchild
Who knows? But it seems like, you know, we are going to be at the Jetsons before too long, right? And I never thought we would see that in our lifetime. But I’ve changed my tune on that. I, I really think we’re going to be at The Jetsons before too long or.
00;18;11;22 – 00;18;26;00
Jamie Madonna
Well, in The Unmanned. You know, I think about how they’re going to they’re trying to roll out like the Uber of the skies. Right? I mean, that’s kind of the phase after that. I don’t think until we can get the driverless car thing down, will we move into the UAV? Yeah.
00;18;26;02 – 00;18;27;24
Chip Arenchild
That’ll go for taxi service.
00;18;27;24 – 00;18;39;21
Jamie Madonna
Yeah. I just can’t imagine we’re going to unleash that aspect of flying. And, you know, you’d have to be really comfortable to get into an aircraft with no pilot and just trust the totally.
00;18;39;27 – 00;18;47;28
Chip Arenchild
Just even an unmanned car doesn’t seem to be, you know, that. Yeah, that’s a big step for human beings to be able to do that, right? Yeah, yeah, I know.
00;18;48;00 – 00;18;54;22
Jamie Madonna
We have one of those. We have one of those cars that can drive itself, and I still hold the wheel.
00;18;54;25 – 00;19;13;14
Chip Arenchild
I love it. What do you think? So is it taking longer to place a piece of business for you? If someone came with the problem, is it take a lot more upfront building a narrative and describing what’s going on? Or how’s the placement of aviation insurance? Or maybe you need one of the hybrid you’re working in right now.
00;19;13;16 – 00;19;37;03
Jamie Madonna
Yeah, yeah. No, I’d say the traditional placement of of known aviation. So just an operator of aircraft or industrial aides. So if a company owns some airplanes, that’s become fairly straightforward. Three years ago, a little more difficult because of capacity issues. And if you think about, you know, if you were a back country operator and you had 4 or 5 aircraft, there’s 4 or 5 insurance carriers that are on that placement.
00;19;37;03 – 00;20;03;20
Jamie Madonna
It’s not a single carrier taking 100%. So its quota share is how those are built today. Those are there’s plenty of capacity. We’ve had a couple of, insurance carriers get into the market, expand capacity. So we’re able to place those when it comes to this new technology. It takes a long time because you have to get that underwriter that knows their traditional aviation and get their head around, you know, what is the exposure?
00;20;03;22 – 00;20;20;26
Jamie Madonna
How are we reducing the risk? And then what’s the expertise of a company that’s, that’s trying to like, let’s say, fly a test, fly an aircraft that’s never been flown. You know, what are the risks on the ground? So it takes a lot more time to get underwriters comfortable with that.
00;20;20;29 – 00;20;28;24
Chip Arenchild
I can imagine I can imagine that. What about the, the Tesla rockets and that kind of stuff? Is that in considered aviation, or would this unmanned.
00;20;28;27 – 00;20;55;09
Jamie Madonna
No, it is, it is. Yeah. Really? Yeah. Satellites, rockets, aerospace is definitely in that market. And while there are some of these aviation carriers, do you know, underwrite those? It’s a different underwriting group. A fair bit of it’s coming out of London, as you can imagine, because it’s again, it’s it’s so new. And the losses are, could be astronomical.
00;20;55;09 – 00;20;59;03
Jamie Madonna
Right. So a lot of that stuff has a very unique placement.
00;20;59;05 – 00;21;07;06
Chip Arenchild
Now, I could imagine. I could imagine. Well, sure. Sounds like you’re having a lot of fun. Right now at this point in your career.
00;21;07;08 – 00;21;28;13
Jamie Madonna
Here we are. I mean, it’s, it’s a good time to be in in this space. I mean, there’s so much technology. I think the FAA has has realized the technology is good. And so allowing some of the change in the cockpit and just, how we think of aviation, has been good for the industry. I think it’s been it was kind of stuck to, you know, sort of 30 year old technology.
00;21;28;13 – 00;21;32;07
Jamie Madonna
And now it’s really catching up. And that’s kind of fun, fun time to be in it.
00;21;32;09 – 00;21;49;26
Chip Arenchild
Are there any other hotbeds across the United States where you see this bubbling up of technology and aviation merging itself together? Any other spots that you wouldn’t think of as being like, all of a sudden we’re seeing stuff coming out of what? Whether it’s Austin, Texas, or maybe it’s Oshkosh, Wisconsin, right? I mean.
00;21;49;29 – 00;22;07;12
Jamie Madonna
Yeah, no, I think you hit a couple there. I mean, I think there are a number of states and places where they’re there is a thought leadership and sort of think tank of people trying to do this in there. You know, I think if you follow kind of automotive, right, and how automotive grew and different areas, it’s similar.
00;22;07;12 – 00;22;33;23
Jamie Madonna
You’ve got a hotbed of technology in Texas. That that’s I think you’re seeing some some neat technology coming out, of course, the Pacific Northwest. But you got Boeing here. So people tend to think that’s a that’s a hub. And it is. So I think where you had kind of major airlines or major manufacturers of aviation has, has and of course, the East Coast is it has, has its share as well, Boston and DC and that.
00;22;33;25 – 00;22;53;04
Chip Arenchild
Yeah, it the world’s technology, right, is pretty fascinating what opportunities are going to be created and where they’re going to be. What about the manufacture of parts in aircraft? Doesn’t that always create a problem with insurance? I mean, if anyone has a is manufacturing something that’s going into aviation? I’ve always had in the back of my mind like there was an exclusion or there was a problem.
00;22;53;04 – 00;23;01;17
Chip Arenchild
There. Is that is that still true today, that if you’re manufacturing something that could be used in any type of aerospace, you really need to work with a specialist?
00;23;01;20 – 00;23;28;18
Jamie Madonna
No, you’re absolutely right. It’s, excluded. And on occasion, depending on what it is, you can get one of the traditional carriers to, take the exclusion out. But it has to be non mission critical. Right. And so, you can get some coverage with the in the traditional markets. But if it is truly going to be used in aviation and could cause bodily injury or property damage in some way, you probably need to go directly to an aviation market for that.
00;23;28;21 – 00;23;50;11
Chip Arenchild
And another reason specialize. So Jamie, it’s been great to talk to you a little bit about this today. And that’s one of my favorite things about doing these interviews is learning something about what other members do and recognizing how wonderful the insurance space really is in terms of how fascinating is. And with business that’s going on and and what a role we play in making sure that commerce gets done.
00;23;50;11 – 00;23;58;06
Chip Arenchild
So anything else you’d like to tell us about yourself or how or why aviation’s great or and he mentioned today.
00;23;58;08 – 00;24;15;14
Jamie Madonna
Yeah, I mean I just I concur I mean this is what’s great about this. I learn learn every day about different aspects of insurance. And I love connecting with the risk prone at members. And just there’s so much there and so much knowledge. It’s amazing what I don’t know. And, what what what I can learn from the group.
00;24;15;16 – 00;24;20;24
Chip Arenchild
Well, then, though, I guess the most important thing then is what’s going to happen with the cracking this year.
00;24;20;26 – 00;24;34;24
Jamie Madonna
Funny you should ask. I somehow got invited to, preseason game Monday night, so it’s it’s on. All right. Well, I mean, you know, it’s like anything in Seattle, we we’re optimistic, and we think we’re going to have a pretty good team. And, I hope it’s better than last year.
00;24;34;27 – 00;25;01;02
Chip Arenchild
Okay. That’s good. Now then the last one would be on the air while we’re on the sports is, yes. I watch the Seattle Buffalo, Broncos game and we have a member agency, Troy Moody and the, Denver, who’s a Broncos fanatic. So I did watch that with a lot of interest. And I thought that was a nice, send off to see the Seattle crowd respond and put a little payback on Russell Wilson for how loud it could be when he’s done that for all the years, forever, ever.
00;25;01;05 – 00;25;01;14
Chip Arenchild
Right.
00;25;01;14 – 00;25;21;17
Jamie Madonna
And so what a fun game to watch. Yeah. I mean, that was a good game. And Geno Smith our quarterback, actually did really well. Yeah. Well I can’t say the same for his second game. But that game he played really well. And it was fun to get Russell back here. And he showed how many they had a number of offsides penalty.
00;25;21;17 – 00;25;38;06
Chip Arenchild
Well, and he was just always holding his head like. And I thought he probably never realized how horrible it is. And I think about that. Whoever has to go up there and play. So I know Seattle’s a fabulous place. And I know you guys are doing good things up there. So Jamie, thanks for joining us today. And and thanks for all your insight and candor.
00;25;38;13 – 00;25;44;12
Chip Arenchild
And again, if you have an aviation question, get in touch with Jamie Madonna at HD.
00;25;44;14 – 00;25;45;29
Jamie Madonna
And I appreciate Chip. Thanks.
00;25;46;03 – 00;26;07;19
Chip Arenchild
All right. We’ll catch you later. We hope you enjoyed this episode of Know Your Risk and insurance Coverage with Risk Pro Net. For more information about Risk Net, please visit our website. You can follow us on Facebook and Twitter for insurance insights from everyone at risk Pro net. We want to say thank you for tuning in and see you next time.
