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INSURANCE| 17.11.2020

Aviation insurers accompany the aeronautical industry through the perfect storm

 

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In an article for the MAPFRE Global Risks magazine Risk Management and Insurance, Cristina Quintero, Head of Underwriting Space and Major Aviation Risks, describes how the situations and requests of aviation industry players have been examined on a case-by-case basis, since the onset of the COVID-19 crisis, to provide them with the best possible insurance solutions.

The grounding of commercial aircraft and the dramatic decline—and even temporary halt—of operations has a knock-on effect on the rest of the industry, meaning that this sector has been one of the hardest hit by the pandemic; never before has any crisis had such an impact.

In her article, Quintero emphasizes that the insurance industry has to be able to adapt and help its clients at this time, providing them with flexibility and support, while also rising to the new challenges it faces itself as a result of the pandemic. Previously inconsequential risks and have become some of the main causes for concern.

The grounding of the majority of aircraft and the dramatic decline—and even temporary halt—of operations has a knock-on effect on the rest of the industry, meaning that this sector has been one of the hardest hit by the pandemic; never before has any crisis had such an impact.

 To read the full article, click here