NU Online News Service
A series of recent losses for the airline industry may mean the aviation insurance line will be hard pressed to see a profit in 2010 should the loss trajectory continue, according to a report from Aon Corp.
In the Chicago-based insurance broker's "Airline Insurance Market News" for August 2010, Aon Analytics said the 5 percent average rate increase on lead hull and liability premium that insurers obtained for July renewals made the airline insurance market appear calmer than it is.
Eight airline carriers, a third of the renewals, experienced increases of more than 10 percent, the report said. The airlines' increases came from increased exposure with "significant growth in either average fleet value or passenger number forecasts for the 2010-2011 insurance programs.
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