Insurance
- Thread starter Skyfarm
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GeorgeC
-------- Forwarded Message --------
Subject: News from AssuredPartners Aerospace
Date: Fri, 12 Jul 2024 14:31:03 -0400
AssuredPartners Aerospace News
Q3 2024
What a difference a quarter makes. Abundant aviation reinsurance capacity has fueled aviation underwriting capacity resulting in the supply-demand balance tipping mostly in favor of the aerospace insurance buyer. Rate stability has been most favorable for light aircraft, corporate flight departments, and airline risks. Renewed appetite from London underwriters has even led to some favorable results for more complex risks that had been especially hard hit by the recent hard market.
The cautionary tale in all of this, however, is to remain alert. Unlike previous aviation insurance market cycles, volatility of worldwide events and their potential to directly impact aerospace claims could make this more consumer-friendly cycle shorter than before. Because the global aviation market is so small, the entry or exit of even a small number of carriers can quickly impact rates. Now, as carriers have become more data-driven, they nor their reinsurers will likely stomach even a short run of negative performance.
Subject: News from AssuredPartners Aerospace
Date: Fri, 12 Jul 2024 14:31:03 -0400
AssuredPartners Aerospace News
Q3 2024
What a difference a quarter makes. Abundant aviation reinsurance capacity has fueled aviation underwriting capacity resulting in the supply-demand balance tipping mostly in favor of the aerospace insurance buyer. Rate stability has been most favorable for light aircraft, corporate flight departments, and airline risks. Renewed appetite from London underwriters has even led to some favorable results for more complex risks that had been especially hard hit by the recent hard market.
The cautionary tale in all of this, however, is to remain alert. Unlike previous aviation insurance market cycles, volatility of worldwide events and their potential to directly impact aerospace claims could make this more consumer-friendly cycle shorter than before. Because the global aviation market is so small, the entry or exit of even a small number of carriers can quickly impact rates. Now, as carriers have become more data-driven, they nor their reinsurers will likely stomach even a short run of negative performance.
As of this afternoon, my rate through AP for a 2000 182-S ($325,000 valuation), 61 year old 302hrs ASEL IR dropped from near $5,500 to just over $3,300 and they are still shopping a couple of additional underwriters to make sure there are not better quotes. Last year was quoted while still a student/ same airplane. Certainly improved because of having the PP/IR cert.. How much better is it because of market competition? 
Datadriver
Line Up and Wait
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- Jan 26, 2012
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Datadriver
Renewed in July at same rate as previous year:
$2370
Piper Arrow @165k hull
Me: 53, 700hrs in type + IFR
$2370
Piper Arrow @165k hull
Me: 53, 700hrs in type + IFR