Keep Me Covered
As much as we loathe using clichs, 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 youre 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.
Market Reshaped
For o…