If you live in the U.S., you might not notice the private planes in the sky but you know they're around. What might surprise you is the growing number of high net worth (HNW) clients who now own private jets.
For countries both big and small, the market is booming. Ownership growth in Belarus alone accounted for a 1,200 percent increase from 2006 to 2016, according to research compiled by Statista.
With the growth in the number of private planes in mind, agents and brokers should review the need for aviation insurance coverage with their HNW clients.
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