What do insurers think makes a safe airline?

An interesting question. These are the folk who really think about this issue because, the world being the way it is, their whole business is based on understanding it.

Right now they’re doubtless thinking about it harder than ever because they’re having a pretty horrible year, not that anybody else is likely to lose much sleep over that I suppose. One of the biggest players – Aon – says claims in the first half of 2009 alone are already about 11% higher than the average for a whole year.

In fact, if the rest of the year hits only the 13-year average then this will be the worst ever year in terms of claims apart from the special circumstances of 2001. Aon says the figure would come in at $2.2 billion, which is a hefty 60% up on the average $1.4 billion. Unsurprisingly, renewal premiums are now running at about 25% higher than last year.

But to go back to the question I came in with. Here’s the answer. This document shows the questions that the International Union of Aerospace Insurers recommends that its members use as best practice.

Some of it obviously relates to the size of the risk, but most of it is explicitly safety-related. And section 2 is really educational.

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One Response to What do insurers think makes a safe airline?

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