Aviation insurance market shows signs of hardening
Tuesday, 12 13 2016, Category: Insurance and Reinsurance, Country: World
Aviation renewals in November has shown a tightening of underwriting discipline, suggesting a change in soft market conditions.
Whilst theoretical capacity levels haven’t reduced, available capacity at a competitive level of pricing has become very limited, JLT said in its November ‘Plane Talking’ aviation newsletter.
Markets are now prepared to reduce their overall line sizes if they are not happy with the level of pricing offered, despite any long-term relationships that they may have, according to the report. Underwriters are declining more risks due to pricing, regardless of any negative effect on their premium income.
Source: Intelligent Insurer