With over 62% of airplanes grounded in April, the value of the top 10 insured airports has shifted, said Suki Basi, managing director, Russell Group speaking to AM Best TV.
Aerospace Risk Report by Russell: The Arc of Volatility
The aerospace industry, which comprises Airlines, Airports, Manufacturers, Commercial GA, Light GA, and the Space/Satellite industry, faces a panoply of growing threats and disruptive forces today. Risk and loss exposures are on the rise for underwriters writing across these aerospace sub-classes. Recent events have thrown the aerospace underwriters into the spotlight, but this insurance class is prone, like most of the specialty classes to political, economic, cyber, credit and business interruption risks too.
In this white paper we explore the aerospace risk panorama today, highlight underlying risk volatility and call for a more integrated approach to underwriting risk management by the insurance industry.