The airline industry saw lead hull and liability insurance premiums increased 5 percent during the first six months of this year, Aon insurance brokerage reported.
In its "Airline Insurance Market Indicators Autumn 2008″ report, the Chicago-based broker's aviation unit in London said the airline insurance market is hardening for the first time in five years even as fuel prices for carriers increase.
Insurers are taking a "tough stance" on renewals so far this year, Aon said, a position that is expected to continue for the last two months of this year when the bulk of renewals take place.
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