Aerospace insurance prices declined last year, but not as significantly as coverage for airlines, according to a report from Aon Limited in London, a unit of Aon Corp. insurance brokerage in Chicago.
In its Aerospace Insurance Market Review of 2007, the brokerage said the sector witnessed an average 6 percent reduction in lead insurance premium, but the drop was not as sharp as for airline insurance, which has fallen 30 percent since 2005.
The reductions were consistent across the manufacturer, service provider and airport sectors that comprise the aerospace insurance market.
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