The Aviation world is booming with revenues having doubled over the last 10 years to US$727 billion in 2015. The Hull & Liability market premiums in 2014 were recorded at US$1,448.32 million. Air traffic is soaring and expected to reach 16 billion passenger flights and 400 million tonnes of cargo by year 2050 says IATA, and Asia is taking centre stage.
But it is not all rosy for airlines or Aviation insurers with the spate of crashes and accidents: the recent Russian Airbus A321 crash, the Malaysia Airlines MH370 disappearance, the shooting down of MH17 and serious pilot error that crashed the TransAsia and Germanwings aircrafts. The claims are massive and have put Aviation insurers under severe strain. Yet the competition in the market is intensive though the airspace has become more crowded and riskier. What gives?
Hence, the Asia Aviation Risks Summit 2016 will look at the theme: “Insuring A Riskier Airspace” and will provide a much-needed platform for airlines, and insurers and claims managers to get together to find lasting and sustainable solutions while getting a better picture of the uphill challenges to be faced.
Limited Free Trade Pass & Visit to the Singapore Airshow 2016 for Early Registrations!
Subject to Availability So Sign Up Today!