Credit: Nikolay N. Antonov/Adobe Stock 'Insurance Crisis' Looming for Aviation Industry in 2024, 38-Year Veteran Warns
The London aviation insurance market could be in for a chaotic 2024, Steven Marks of Podhurst Orseck predicts, as reinsurers scramble to cover damages for aircraft crashes that are ballooning far more than planned.
December 15, 2023 at 06:41 PM
6 minute read
Aerospace
A financial crisis is incoming for the aviation industry in the new year due to insurers' responses to lawsuits filed after multiple air crashes in the last two years, misjudging how much money is needed to pay damages, an expert warns.
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