2011 on pace for record low number of aviation insurance claims
July 27, 2011, 03:09 pm
Aon Aviation recently announced that so far, 2011 is on track to have record low number of aviation insurance claims. The low number of claims likely reflects the low number of aviation accidents that have occurred thus far in the year.
Aon stated, "The current loss figure, excluding minor losses, is $120.68 million so far this year, compared to $958.82 million recorded at the same point in 2010. Adding an estimate for minor losses, the overall loss total is $470.68 million at present, compared to $1,279.65 million in 2010. As a result, claims, including an estimate for minor losses, are currently around 36 percent of the level reported between January and the end of July 2010."
The company reports that all regions of the world, from North America to the Middle East, are well below average in the number of aviation insurance claims. Fatalities are at 140 so far this year, starkly contrasting with the 260 average deaths between January and July from 1995 to 2010.
Aon asserts that the low number of claims this year will probably help aviators find affordable life insurance for pilots.
The Federal Aviation Administration reports that there were 627,588 certified pilots in the United States in 2010. Slightly over 200,000 of this number were registered as private airplane aviators, 21,275 only flew glider planes and 15,377 only flew rotorcraft.
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