Airline industry saw its lowest ever levels of losses

The airline industry saw its lowest ever levels of losses during 2003 resulting in an average reduction of 18% in insurance rates, according to a report released by Aon. Terrorism, however, continues to be an ever-present threat to the aviation sector and the ongoing risk to airlines, airports and civil aircraft is at a higher level than expected. Although some insurers stopped providing insurance for airlines in 2003, capacity levels were still sufficient to meet demand. Overall insurance