Aon Aviation recently reported that as a result of the low number of aviation incidents in 2011, airline insurance claims are on track for a record low in 2011 as well.
The Aon report noted that the current loss figure this year is $120.68 million, compared to $958.82 million established at the same time in 2010. When estimates for minor losses are factored into these figures, the total overall loss is $470.68 at present, compared to $1,279.65 million in 2010. Claims are therefore around 36% of the level reported between January and July of 2010. For a complete copy of the Aon report click here.
The Aon report further noted that fatality levels are also low, with only 140 reported thus far this year compared to 260 on average in the first seven months for years 1995 to 2010. The report goes on to state that the low number and value of claims and fatalities so far in 2011 is a positive development in comparison with 2009 and 2010 when claims were high compared to the long term average. Nonetheless, Aon’s report also noted that a series of incidents could still occur by year end which could change the position significantly.