Airlines enjoyed significant reductions in insurance premiums during the third quarter of 2004, according to insurance broker Aon. Average hull rate reductions of 12% and liability reductions of 13% were recorded, compared with the third quarter of 2003, it says. "A number of factors such as the reducing age of the global airline fleet, investments in technology and more awareness of security and safety are clearly contributing to [declining hull loss rates], which now looks like more of an enduring trend," says Steve Doyle, manager of Aon's global aviation practice.
Source: Flight International