Reinsurance

January 30, 2014 - 2:08pm

Last year marked another year of relatively soft rates in the general aviation insurance market, according to aviation insurance broker NationAir’s annual market analysis, released yesterday. “While the market conditions have remained the same for several years, the reasons for that soft market are changing,” noted company president Jeff Bauer.

Initially, increased market competition pushed rates down, he said. “Now, however, rates are being held down by the more long-term forces of structural overcapacity and, thankfully, favorable loss history.”

June 16, 2013 - 3:30am
David McKay, CEO of insurer USAIG

There has hardly been a better time to be a buyer of aviation insurance, as all signs point to a buyer’s market. Several factors are driving lower rates in this insurance segment, including fewer airline accidents, lower overall insurance claims, the economy, more underwriters entering the market, increased adoption of safety management systems and more sophisticated aircraft. AIN talked to David McKay, president and CEO of insurer USAIG, to get a better sense of this market. USAIG and McKay are here at the Paris Air Show supporting long-time customer Bombardier.

November 17, 2011 - 3:31pm

The Middle East Business Aviation Association (MEBAA) launched an aviation insurance group discount program for members on Tuesday at the Dubai Air Show.

July 6, 2010 - 11:42am

Buyers of coverage for aircraft, aviation businesses and property have found a silver lining in the recession: relatively stable prices for insurance. Attendees at this year’s Aviation Insurance Association (AIA) conference confirm the news; too much available insurance capacity means that no underwriter has the power to raise prices.

July 30, 2008 - 5:07am

There was no such thing as aviation insurance when Shakespeare penned, in Henry VI, “The first thing we do, let’s kill all the lawyers.” If there had been, the quote might have been a bit longer, according to many in the industry. Next to lawyers, everyone loves to hate insurance agents and underwriters.

May 27, 2008 - 11:03am

In the months since September 11, the insurance industry has taken a beating. Some estimates–and they are still just estimates–put the total losses in excess of $100 billion.

Within days of the terrorist attacks, it was apparent that efforts by insurers to cope with the disaster would translate to higher costs and changes in coverage limits. So far, this is being proved out.

May 5, 2008 - 11:28am

Following last September 11, aircraft owners and operators began bracing for massive hikes in insurance coverage and changes in the limits of that coverage. Now, a year later, their fears are being realized. But while rates have risen, sometimes triple those before September 11, the increases are not without some justification. The question is, just how much is justified?

April 23, 2008 - 6:25am

“In the next 60 to 90 days, you’re going to see security in the United States like you’ve never seen before,” said retired U.S. Navy admiral Isaac Richardson in late June. “A portion of the nation’s reappraisal took a very hard look at general aviation…and the threat posed by general aviation aircraft as weapons.”

October 8, 2007 - 11:03am

Corporate aviation operators at all levels received good and bad news from insurance representatives at the 26th annual Aviation Insurance Association conference held in Kansas City, Mo., on April 29 and 30.

 
X