Posted on 29 Nov 2010
The airline insurance market is getting softer as the year progresses, with prices only rising for operations where there has been a loss, a significant increase in exposure or both, according to Aon's Airline Insurance Market News.
According to the report, of the 22 renewals placed so far this month, only eight have experienced rate increases.
While the headline numbers suggest that the market is hard, the aviation market actually appears to be in the process of softening, Aon said in the report.
If there are no further losses this year, total aviation market claims are forecast to be $1.96 billion this year vs. $2.09 billion last year, Aon said.