Aviation insurance industry braces for fallout after Branson’s Virgin Atlantic goes bust
Gallagher warns that Covid-19 could ‘act as a catalyst’ for rate increases translating into a harder global insurance market
London-based airline Virgin Atlantic has declared bankruptcy just months after sister company Virgin Australia filed for voluntary administration back in April.
It is just part of the fallout that the aviation industry is experiencing during the ongoing Covid-19 pandemic, and one that will have a knock-on effect on the aviation insurance industry which includes travel insurers as passenger demand plummets.
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