Filed Under:Agent Broker, E&S/Specialty Business

Aviation Market Flies Under Radar of ‘Hardening’ Market

Ample capacity, positive loss trend, industry consolidation signal a continued soft market

At the beginning of 2011, Aviation insurance brokers fully expected to see a move toward a hardening market over the course of the year. Instead, the line produced a year of pricing decreases—and no one is anticipating any big jumps in 2012.

“Unless there is a significant event in terms of reduced capacity or a major disaster, we do not see any drivers of rate increases in 2012,” says Peter Schmitz, CEO of Aon Risk Solutions Global Aviation Specialty. “The main driver of rates is an individual airline’s book of business.”

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