Aviation
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Corporate round-up
ACE appoints Tim Scott-Young as claims director for continental Europe, TT Club appoints regional claims director EMEA, Allied World teams…
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Reliability concerns fuelling two-speed space market
The cost of insuring satellite launches is set to rise for some operators, but better risks should enjoy favourable conditions…
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Evidence of safer skies but risk management challenges ahead
Despite 2014’s heavy aviation losses the skies are an increasingly safe place to be, however new technologies, rising claims costs…
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African aviation sector suffers poorest safety record worldwide
This year’s aviation disasters contradict the industry’s long-term improvement in safety, with currently fewer than two passenger deaths for every…
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Corporate round-up
Gallagher to enter Chinese specialty market via joint venture with Jiang Tai, Swiss Re Corporate Solutions names Marc Davis as…
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Threat of huge price hikes during aviation renewals tempered by excess capacity
Following a series of losses earlier this year aviation insurance renewals faced the threat of big price increases at the…
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Insurance buyers face ‘upward pressure’ on aviation rates–AM Best
Buyers of aviation insurance face higher prices in coming renewals because of the recent crash of the Virgin Galactic test…
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Losses set to reverse recent trend of softening in airline risk market
A series of losses in the second half of this year has resulted in a dramatic turnaround in the aviation…
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European business at threat from Icelandic ash cloud
The threat of disruption to aviation and wider business interests across Europe from the potential eruption of Icelandic volcano Bardarbunga…
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Malaysia Airlines loss to force adjustment in aviation market
The tragic loss of the Malaysia Airlines flight over Ukraine last week could halt almost a decade of price reductions…
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Improved safety and capacity pushes airline insurance rates down again
Unprecedented improvements in safety and overcapacity are likely to see aviation insurance rates fall further this year, despite the tragic…
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Aviation market to soften despite underwriting loss: Aon
Despite higher claims than premium in the aviation market last year the price of cover is set to continue to…
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Corporate round-up
ACE establishes global cyber risk practice, Brokerslink expands Mexican ambitions with new Monterrey member, Guy Carpenter names new head of…
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$450m losses from flight MH370 will not arrest soft aviation market–S&P
S&P estimates that insured losses from missing Malaysia Airlines flight 370 will total between $250m and $450m and not arrest…
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New insurance details of missing Malaysia Airlines plane emerge
Further insurance arrangements of Malaysia Airlines flight MH370 emerged this week with Etiqa Insurance & Takaful, the insurance unit of…
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Allianz lead insurer of missing Malaysia Airlines flight MH370
Allianz is the lead insurer of Malaysia Airlines flight MH370 that disappeared on Saturday with Willis broking the coverage.
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Marine and aviation markets changing shape as surplus capacity persists
As worldwide travel continues to rise, the complexity of transportation risks is increasing and the structure of marine and airline…
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AIG lead hull insurer on $130m policy claim reports
AIG is the lead hull insurer of the Asiana Airlines plane that crash landed at San Francisco International airport on…
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Airline losses down 40% in 2012
The aviation industry experienced one of the lowest levels of losses to date in 2012, helping most airlines achieve premium…
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Soft market entrenched for global aviation risks say Aon
Primarily as a result of over capacity, premium rates continue to fall in the aviation market with limits increasing and…