Aviation
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AXA XL reducing aviation war cover after Ukraine losses, say Reuters sources
AXA XL is reported to be reducing aviation war cover after heavy Ukraine-related losses, according to Reuters. Two underwriting and…
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Reinsurance renewal signals new reality for buyers, says Aon
The January 2023 renewal was the most challenging in a generation, as the reinsurance market underwent a fundamental shift in…
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Property and certain specialty lines see big 2023 reinsurance renewal increases
The insurance sectors seeing the biggest premium rate increases in the January 2023 reinsurance renewals were property and specialty, including…
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Chubb Global Markets appoints head of airlines
Chris Collins has been appointed as head of airlines for Chubb Global Markets (CGM), the company's London Market wholesale and…
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Property reinsurers push Europe into hard market at 1/1 renewals
European reinsurance buyers once again faced a hard market at January renewals after ten years at the bottom of the…
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Aviation insurance rates fall but war exposures see big hikes
Despite ongoing uncertainty about hull war losses arising from the Russia-Ukraine war, which caused a surge in war risk pricing,…
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SMBC Aviation latest to sue insurers over Russian jet losses
SMBC Aviation Capital has become the latest aircraft leasing company to file a legal claim against its insurers for jets…
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Cat claims to drive double-digit reinsurance renewal hikes: Fitch
Reinsurance rates for property catastrophe cover will increase by well over 10% at upcoming January 2023 renewals, according to Fitch…
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Marsh and Beazley cover first UK space rocket launch
Marsh has brokered insurance for the first space rocket to launch from UK soil, with Beazley carrying the risk. The…
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BOC Aviation joins aircraft leasing firms suing insurers for Russian jet losses
Another aircraft leasing firm, BOC Aviation, has filed legal action against its insurers over the loss of aircraft stranded in…
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Airline insurance market braces for Q4 price rises, says WTW
Price rises for the airline insurance market seem likely during the Q4 renewal season, according to WTW. It says that…
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Aircastle sues Chubb and other insurers for leased planes stranded in Russia
Bermudan aircraft lessor Aircastle has filed a lawsuit against its all-risks and war insurers, led by Chubb, claiming $266m for…
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Aircraft lessor Carlyle sues insurers for stranded jets in Russia
One of the world’s largest aircraft lessors Carlyle Aviation Partners is reported to have begun $700m legal action against its…
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Dubai Aerospace files lawsuit against insurers over Russian-seized aircraft: Reuters
Aircraft lease firm Dubai Aerospace Enterprise (DAE) is suing 11 insurers in London to recover losses of about $600m for…
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Oyin Heath to join WTW global aerospace
Oyin Heath is to join WTW global aerospace as a managing director in the newly created role of global head…
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Gallagher warns aviation buyers of 100% hull war rate rise
Hull war insurers are looking for 100% rate increases when the majority of airlines renew their policies in the fourth…
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Air France and Airbus stand trial for involuntary manslaughter over 2009 crash
A trial is due to open in Paris today against Air France and Airbus on charges of involuntary manslaughter, after…
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Lloyd’s and LMA working on kitemark for safe space exploration
Lloyd’s and the London Market Association (LMA) are collaborating with the UK government and leading industry experts to produce the…
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Boeing pays $200m after being charged with misleading investors on 737 MAX safety
Aircraft firm Boeing and former CEO Dennis Muilenburg have been charged with misleading investors about the safety of its 737…
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WTW launches airport risk index to boost resilience
WTW and the University of Cambridge’s Centre for Risk Studies have launched the Airport Risk Index to boost risk management…