Episode 64: Aviation Insurance Market Update Summer 2023

✈️ Navigating through the #AviationInsurance market? Our latest podcast episode dives into the key trends and major influences shaping the industry.

The aviation insurance industry continues to see an upward trend in rates across most sectors. Key influences include the after-effects a long soft market with unsubstantially low rates, the impact COVID-19 and its fall-out, the 737 MAX losses, and the 2022 Russian confiscation of foreign-owned aircraft. Aerospace insurance companies are being negatively impacted by increased costs due to inflation, higher claims costs, increasing liability awards, higher reinsurance costs, significantly higher war risk insurance costs, and more.

The silver lining is that despite these headwinds, it isn’t all bad news. Insurers and reinsurers haven’t been making knee jerk reactions to these issues. The market also has plenty of insurers still eager to write aviation business. This helps the aerospace insurance market to remain more stable than if the capacity were to decrease.

Stay connected with us for more updates as we continue to navigate the headwinds and tailwinds of the aviation insurance industry.

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