The recent spate of airline accidents has not yet translatedinto increases in airline hull insurance, said an executive at Aon,out of London; however, the broker did not rule out increases forfourth-quarter renewals.
Aon said that four airline crashes in quick succession havebrought to an end a long period of relatively benign lossexperience for the aviation insurance market.
August is now the second most expensive month, in terms oflosses, for the airline industry since January 2002, Aon said.Despite the losses, for aircraft hulls valued at over $170 millionthe monthly trend in the cost of losses has continued to fallsteadily.
Continue Reading for Free
Register and gain access to:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
