Airline insurers are reviewing cover for aircraft involved in hostile acts such as the downing of Malaysia Airlines Flight MH17 as the industry faces its most expensive year since the 9/11 attacks in 2001.
With annual losses set to pass $2bn, senior insurance brokers warn that some underwriters are demanding more than threefold increases in premiums in recent days for “war” policies.
Some insurance companies want details of exact flight paths and are considering withdrawing completely from providing certain types of cover for flights over hotspots in the Middle East and parts of Africa.
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