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This year is on track to becoming the costliest for the aviation insurance and reinsurance sector since 2001, when the Sept. 11 attacks occurred, reports Forinsurer.
The insurance sector will have to pay $2 billion in compensation for total losses from air crashes, Forinsurer reported citing EuroNews. Meanwhile, experts say that aviation insurance and reinsurance premiums are likely to increase due to the spate of accidents this year.
1. Turkish airlines cancel flights to Iran and Iraq amid war concerns
2. Zurich Insurance to stop underwriting new oil and gas projects
3. Bermudan, European reinsurers to suffer major hit from bridge collapse
4. Tycoon gets death sentence for multi-billion-dollar fraud
5. Inflation drives 10% increase in sum insured for windstorms
6. Apple loses bid to throw out $977M lawsuit over app store fees