The high level of hull and liability claims, coupled with falling premium levels could mean some intense negotiations over airline premiums in 2008, according to a report released by Aon.
The Chicago-based insurance broker said that lead hull and liability claims were at $1.7 billion, close to the lowest since 2000 when coverage reached $1.5 billion. The numbers mean that the airline insurance market was broadly unprofitable in 2007, Aon said.
As a result, the firm predicted the negotiating process is likely to be tougher in 2008.
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