The aviation industry is bracing for double-digit insurance premium hikes for the first time in about 15 years, as insurers wrestle with higher costs from aircraft groundings, including the grounding of Boeing Co.’s 737 MAX jets following two fatal crashes, …
Arthur J. Gallagher, the Rolling Meadows, Ill.-based insurance broker, confirmed the previously announced acquisition of Jardine Lloyd Thompson Group plc’s (JLT) global aerospace operations was completed on June 1, 2019. The addition of JLT’s global aerospace retail and wholesale insurance …
Liability claims related to the Ethiopian Airlines crash and the grounding of Boeing 737 MAX 8 aircraft could be the largest non-war aviation reinsurance claim on record, hitting reinsurers’ profitability, reinsurance broker Willis Re said. The crash of Ethiopian Airlines …
Boeing Co.’s insurers face big claims from families of the victims of the Ethiopian Airlines crash, coming less than six months after the crash of the same type of Boeing aircraft in Indonesia, insurance and aviation sources said. An Ethiopian …
Britain’s Global Aerospace is the lead insurer for the world’s biggest plane maker Boeing Co, the insurer’s top boss said on Monday. “I can confirm that Global Aerospace leads Boeing, and also Lion Air,” Chief Executive Officer Nick Brown said …
Marsh & McLennan Cos. (MMC) and Jardine Lloyd Thompson (JLT) have entered into an agreement to sell JLT’s aerospace business to Arthur J. Gallagher. The agreement provides for the acquisition of all assets within JLT’s global aerospace retail and wholesale …
Now’s the time to get in on the ground floor of the business of insuring drones. That’s according to panel of experts speaking recently in a drone insurance webinar hosted by Insurance Journal. The consensus from the panelists was that …
Global Aerospace, the London-based provider of aerospace insurance, announced that Munich Re has agreed to purchase an additional 11 percent of the shares in Global Aerospace Underwriting Managers Ltd., the company that manages the Global Aerospace Pool. Following the acquisition, …
Everest Re Group Ltd. has said its Dublin-based unit has received approval from the Central Bank of Ireland to become a non-life insurer, joining a growing list of insurers setting up regulated EU operations in case Britain does not have …
Parsippany, New Jersey, September 20, 2017 – Global Aerospace, a leading provider of aerospace insurance, announces the introduction of Aviation Professional Services Liability insurance for the aerospace industry. The coverage will be available to aerospace contractors, aircraft maintenance providers, auditors …
