Several Factors Causing Softness in Aviation Insurance Market
David McKay, CEO of insurer USAIG, said that further airline and industry consolidation could push rates back up as there are fewer premium-payers to cover the risk.
David McKay, CEO of insurer USAIG, said that further airline and industry consolidation could push rates back up as there are fewer premium-payers to cover the risk.

There has hardly been a better time to be a buyer of aviation insurance, as all signs point to a buyer’s market. Several factors are driving lower rates in this insurance segment, including fewer airline accidents, lower overall insurance claims, the economy, more underwriters entering the market, increased adoption of safety management systems and more sophisticated aircraft. AIN talked to David McKay, president and CEO of insurer USAIG, to get a better sense of this market. USAIG and McKay are here at the Paris Air Show supporting long-time customer Bombardier.