One of the primary reasons for the change is that when Captain Andy Bell started LIPS in 2007, it was with a small group of pilots, a lot of trust and crossed fingers. But we have left those simpler times behind us; we have grown into a large, financially strong organization and in today’s regulatory environment relying on trust and hope is no longer a satisfactory way to do business. To that end, Aircrew Protection International has been created with the help of the Sovereign Group, who specialize in the formation and management of trusts funds and pensions. The Aircrew Protection International assets - your assets - that total over AED 12 million are now held in trust, regulated by The Guernsey Financial Services Commission with each and every member of Aircrew Protection International being a member of that trust.
The other reason for this change is that when LIPS started it was simply a non-profit mutual benefit plan. In the nine years since, we have grown and added services far above and beyond the original plan. Aircrew Protection International is still a successful, non-profit mutual benefit plan but now offers: The first 5 years of medical benefits underwritten by Lloyd's of London· An improved, more secure medical license protection plan · A legal cover of $50,000 in the event you are named in a criminal or civil case as the result of your duties on the aircraft · Sharia compliant wills · Access to the Harvey Watt & Co medical advisory and advocacy organization.