Hiscox exits aviation hull and liability

Specialist insurer Hiscox is withdrawing from aviation hull and liability underwriting due to market conditions pressuring rates.

“We have made the difficult decision to withdraw from aviation hull and liability underwriting, Hiscox said.

“Our team have built a core, high quality book of aviation hull and liability business, but market conditions make it difficult to see a future in this area. Rates have been reducing for over seven years and we don’t see this changing anytime soon.

“Our appetite for aviation product recall and aviation cyber has not changed and we will continue to serve the aviation industry with other products such as D&O, general liability and personal accident,” the company stated

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