Helicopter owners are in for major sticker shock when they receive their next insurance premium bill, particularly private pilots and small commercial operator. So counsels Matt Drummelsmith, president of insurance brokerage Aviation Specialty Insurance. Drummelsmith said premiums are in some cases even doubling, while some carriers are dropping customers and others are refusing to underwrite entire policies. Drummelsmith says the carnage “already is in full swing” and no one is immune. “It doesn’t matter what you size, scope, or experience is,” he said. “Some carriers are not even quoting at this point and those that are are taking a much harder look at pilots and operations. Things that could be underwritten six to eight months ago are now being declined, the policies that are being written have heavy restrictions, and some premiums are even doubling. It’s a much harder process,” especially for new helicopter buyers, cautioned Drummelsmith.
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