Aviation insurance trends to watch as 2021 unfolds

In April 2020, two-thirds of global aviation fleets sat idle on runways, but the sector is now rebounding with domestic travel leading the way, according to Allianz Global Corporate & Specialty (AGCS), which noted several issues, such as “rusty” pilots and insect infestations, are now challenging the sector.

“The grounding of worldwide fleets during the pandemic has represented an unprecedented event for the aviation industry,” Dave Warfel, a regional head of aviation at AGCS, said in a release. “Airlines have worked tirelessly to maintain their fleets and train their crews during this long period of inactivity and, as insurers, we take a keen interest in working with them to understand their plans to return to service.”

Noting it is hard to predict what shape the aviation industry will return in, Warfel said one thing is for certain: changes happened.

To get a better gauge on issues at hand, AGCS reviewed the sector and pinpointed the aviation sector trends highlighted in the above slideshow. This news comes as travel insurance is seeing a surge due to the easing of COVID-19 restrictions. Source: Allianz Global Corporate & Specialty

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