Aviation insurance industry braces for fallout after Branson’s Virgin Atlantic goes bust

By Clare Ruel2020-08-05T07:45:00

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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