NU Online News Service, Nov. 29, 3:25 p.m. EST

The aviation insurance market is showing signs of softening despite this year being on track as one of the costliest loss years in history, according to a report from Aon Risk Solutions.

In its December report, Aon Risk Solutions, a subsidiary of Chicago-based insurance broker Aon Corp., said that while overall premium numbers point to a hard market, the fact that only eight of 22 renewals during the month of November experienced increases points to a market that is in the process of softening.

Aon said the 19 percent average premium increase was borne by three airlines that "either had losses, come of group insurance programs or both."

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