Aviation Insurance Market: Historically Soft
Even as the new aircraft market continues to stumble, more companies are getting into the aviation insurance game and, as a result, premimum prices for some classes of aircraft are at historic lows. In a podcast from AOPA Summit in Hartford this week, Jon Doolittle of Sutton James Insurance, told AVweb that insurance premiums on jets used for business flying are lower than ever and it doesn't end there.
There's similar softness in premiums for light pistons, but not to the extent seen in the current jet market. LSAs remain insurable and although rates are competitive, there are far fewer players in the LSA segment because many insurers aren't sure which companies are viable and despite all the blather about global markets, some U.S. insurers just aren't comfortable with small, offshore LSA manufacturers.