July 16, 2015 Articles

Handling Aviation Disaster Claims: One Insider's View from the London Market

By Nelson Camacho

The commercial aviation world has been subjected to increasingly violent events, which are causing aviation claims and war risk insurance premiums to climb following several recent tragedies (Tripoli and Karachi airport attacks, as well as the two consecutive Malaysia Airlines losses). It is estimated that the last time this war insurance market saw so much activity was in 2001 when the Tamil Tiger Bandaranaike International Airport raid was coupled with the 9/11 New York City tragedy.

A question exists as to whether there is a pattern in the volatility and to what extent insurers can cope with the aviation war market in the aftermath of 2014’s loss events. A more important question, for the purpose of this article, is whether there has been a measurable impact in legal activities and derivative legal actions arising from war risk insurance claims.

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