At the beginning of 2011, Aviation insurance brokers fully expected to see a move toward a hardening market over the course of the year. Instead, the line produced a year of pricing decreases—and no one is anticipating any big jumps in 2012.
“Unless there is a significant event in terms of reduced capacity or a major disaster, we do not see any drivers of rate increases in 2012,” says Peter Schmitz, CEO of Aon Risk Solutions Global Aviation Specialty. “The main driver of rates is an individual airline’s book of business.”
Recent renewal premiums ranged from flat to down 10 percent, says Schmitz.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- 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
© 2025 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.
