The Aviation Insurance Hard Market factors continue to pile up: 1. 2018-Present Loss Ratios have cut deeply into reinsurance revenue from several disasters and tragedies worldwide. 2. Aviation claims, lead by the Boeing losses, are now well over $2B for the same period. 3. Aviation insurance rates were very low for more than a decade…
The pandemic has been cruel to weak businesses and weak immune systems. Businesses that were struggling and people who were struggling with underlying conditions have been the highest number of victims. It has also been a catalyst for businesses and industries. In my involvement with many entrepreneurs throughout the crisis I have observed that the…
There has been a lot of insinuations that the pandemic is changing the aviation insurance marketplace significantly. Our experience suggests this is not yet the case as respects General Aviation (GA) because the aviation insurance market was already in a critical moment. Another reason is that GA demand has not declined. However we do believe…
As we discuss the aviation insurance marketplace with our clients we focus on the consequences for them: higher rates, reduced coverages, fewer options, and stricter training requirements. But the big picture and understanding what is happening on the underwriting side is important for all stakeholders to work together. Reinsurers endured the largest claim year in…