Almost anyone who is involved in aviation has heard of or experienced the "hard" insurance market. Rates are up, and underwriting guidelines are becoming strict (again). We are coming out of a "soft" market that lasted for 10 years, and moving straight into a "hard" market. In some cases, insurers are reducing the amount of liability coverage they will offer and the maximum value of the airplane that they will insure. Insurers are now in a position where they can be more selective about the terms they will offer. Here's a necessary follow-up to the insurance market article we ran in the February 2019 Aviation Consumer—a time when we noticed some change.
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