May 1998 Issue
Keep Me Covered
Insurance rates are likely to remain low for awhile but if you want high liability limits, fuggedaboutit.
As much as we loathe using clichés, we can think of one that describes the current aircraft insurance market: There’s good news and bad news.
The good news is that more companies are vying for business in a relatively flat market and financial markets are flush with cash. That puts downward pressure on rates, which owners will find agreeable.
The bad news is that virtually all of those companies have abandoned the option of writing high-limit coverage. These days, $1 million smooth is the max liability you’re likely to see. That may be a non-issue for private owners but for anyone operating an aircraft for business use, the coverage squeeze is on.
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