Luckily for owners and operators across the globe, the aviation insurance market remains burdened with overcapacity that is keeping rates far lower than they should be. Premiums are hardening and will rise during 2011 by about 4%, nowhere near what they should be. Losses in 2010 were once again very high, with insurers seeing approximately $2.1bn of claims, down from $2.3bn in 2009 but well above the average for the past decade of $1.5bn. The last two years have seen very high levels of claims but lower than average numbers of incidents. This does not bode well for the aviation

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