{"id":1888,"date":"2022-06-10T10:44:48","date_gmt":"2022-06-10T15:44:48","guid":{"rendered":"https:\/\/www.bbrown.com\/?post_type=insight&p=1888"},"modified":"2022-06-22T10:04:03","modified_gmt":"2022-06-22T15:04:03","slug":"aviation-market-update-russia-and-ukraine-lessors-to-pursue-claims","status":"publish","type":"insight","link":"https:\/\/www.bbrown.com\/us\/insight\/aviation-market-update-russia-and-ukraine-lessors-to-pursue-claims\/","title":{"rendered":"Aviation Market Update: Russia and Ukraine – Lessors to Pursue Claims"},"content":{"rendered":"

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Property & Casualty<\/p>\n

\n Aviation Market Update: Russia and Ukraine - Lessors to Pursue Claims\n <\/h1>\n\t\n <\/div>\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t<\/div>\n\n\t\n[\/vc_column][\/vc_row][vc_row][vc_column width=”2\/3″]\n
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\n Aviation Market Update: Russia and Ukraine - Lessors to Pursue Claims\n <\/h1>\n\t\n <\/div>[vc_column_text]Uncertainty continues in the Aviation market, as Russia\u2019s invasion of Ukraine leaves 400 leased planes, valued at $10B, on the ground at Russian airports after Moscow has blocked them from leaving1<\/sup><\/a>. As a result, lessors have begun to write down hundreds of millions of dollars in recent weeks while pursuing insurance claims.<\/p>\n

However, these claims may take years to settle, and S&P Global is estimating losses anywhere from $6B to $15B. The wide range of losses stems from the number of \u201coccurrences\u201d or trigger events attributed to Russia\u2019s default and will come down to specific wording in each policy.1<\/sup><\/a><\/p>\n

The world\u2019s top aircraft lessor, AerCap,\u202freported in early April 2022 that it had submitted a $3.5 billion insurance claim for more than 100 jets stranded in Russia, the largest exposure in the sector.<\/p>\n

Lessors of commercial aircraft already see significant rate hikes in the cost of renewing policies out of the London market, which could trickle down to the domestic U.S. market later this year and prolong the hardening of the market. There is also concern that a claims battle could deter the appetite for risk in general.<\/p>\n

Insurance Journal: https:\/\/amp-insurancejournal-com.cdn.ampproject.org\/c\/s\/amp.insurancejournal.com\/news\/international\/2022\/05\/11\/667129.htm<\/a>[\/vc_column_text][\/vc_column][vc_column width=”1\/3″][vc_single_image image=”1389″ alignment=”center” style=”vc_box_circle_2″][vc_separator border_width=”2″ el_width=”60″][vc_column_text]<\/p>\n

Aviation Team<\/h6>\n

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[vc_row row_style=”page-hero” full_width=”stretch_row_content”][vc_column][\/vc_column][\/vc_row][vc_row][vc_column width=”2\/3″][vc_column_text]Uncertainty continues in the Aviation market, as Russia\u2019s invasion of Ukraine leaves 400 leased planes, valued at $10B, on the ground at Russian airports after Moscow has […]<\/p>\n","protected":false},"author":66,"featured_media":1889,"template":"","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"insight_category":[53,34],"class_list":["post-1888","insight","type-insight","status-publish","has-post-thumbnail","hentry","insight_category-aviation","insight_category-property-casualty"],"acf":[],"yoast_head":"\nAviation Market Update: Russia and Ukraine - Lessors to Pursue Claims - Brown & Brown<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bbrown.com\/us\/insight\/aviation-market-update-russia-and-ukraine-lessors-to-pursue-claims\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Aviation Market Update: Russia and Ukraine - 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