Aerospace soft market continued in 2007

The aerospace insurance market softened in 2007, responding to the high level of capacity and low level of losses in the aviation industry over the last five years, according to Aon’s Aerospace Insurance Market Review of 2007. The average 6% reduction in lead premium was not as significant as the fall witnessed in the airline insurance market, but the direction was consistent across the manufacturer, service provider and airport sectors that comprise the aerospace insurance market.