United States Aircraft Insurance Group (USAIG)

United States Aircraft Insurance Group (USAIG) is 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.