Airline Insurance Premiums Fall

Airline insurance claims and premiums fell last year, signaling better rates for airlines in the year ahead. According to market research by Aon Risk Solutions, lead hull and liability premiums were $1.61bn in 2012, down from $1.81bn in 2011.  Major losses in 2012 totaled $324m, nearly 40 per cent less than the $522m recorded in 2011.  Minor losses were down an estimated 20 per cent from $924m to$1.13bn in 2011.  The report also showed that some regional risk exposures now boast an underwriting profit on a five-year basis. Simon Knechtli, chairman, Aon Risk Solutions, Aviation, said: “The outlook for airline insurance purchase in 2013 is very positive.  Simple market dynamics should dictate that the underlying cost of risk will fall, particularly where losses are benign.”

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish