Aerospace
-
The account with one of the world's leading helicopter providers is worth about $15mn in annual premiums. -
The Gallagher-brokered and Liberty-led account is likely to generate a $3mn hull claim and between $6mn-$9mn in liability losses.
-
The AJ Gallagher report says multiple potential claims could take current loss levels well above the $330mn already known about.
-
Covid-19 vaccine rollouts are likely to create conditions which temper rate expansion, the broker said.
-
The broker’s 1st View report also finds hardening in the engineering market and increased appetite for quota share within marine.
-
The London-based carrier has a 7.5% line on the account, which has proved difficult to place due to its loss history.
-
The Boeing loss deterioration to $2bn had prompted a burst of rate acceleration to 30% rises in November, although this was described as “short-lived”.
-
The multi-year pact covers both airlines and aerospace.
-
Insurance Insider launched its first-ever talent survey aimed at the aviation insurance market and some 165 professionals made it to the overall ranking
-
Reinsurance is significantly up for aviation insurers due to Boeing loss deterioration.
-
The rocket failed, carrying two Earth observation satellites on Monday, but was uninsured.
-
The carrier has placed its book of primary business into run-off but will continue to write space reinsurance.
