Aviation Insurance Association board president James Gardner warned in May that rotorcraft operators would face "seismic changes" to their insurance budgets following a $3B softening of the global aviation insurance market from 2005 to 2019 due to artificially and contractor-market lowered premiums, as well as increased costs due to settlements from high-profile aircraft accidents. Gardner called the current situation "not sustainable" for insurers and predicted upcoming price hikes as well as limited cost relief for COVID-19 impacts. (Source: AIN, HAI)
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