A spate of air crashes throughout the world has made the first seven months of this year “the worst period” for the aviation insurance industry since 2001, an international insurance brokerage industry official acknowledges.
But as noted by officials at Marsh, one of three U.S. brokers active in the airline insurance space, this category “has been very profitable over the last four years,” and is well capitalized.
At the same time, industry officials see little impact on airline passengers because insurance constitutes only a trace expense for airline carriers.
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