Aviation insurance. Working party report

Document description

The paper briefly describes the main sectors of the airline insurance market, and the factors that are determining results in this area. In particular, the after effects of September 11th are considered in some detail. The Working Party suggests changes that could be made by insurers, expected growth in the main sectors, and high profile factors that may materially impact on future experience. This paper is intended primarily as an update to the paper that was produced two years ago, and is aimed at those unfamiliar with this esoteric but high profile area of the General Insurance Industry. Where given, premium figures have generally been taken from brokers' statistics. As such, they are before brokerage (typically 10%) and assume that the entire market gets leader's terms. This has patently not been the case; the difference in rates between lead and following slips has previously been up to 40% for Airlines.