For five years now, the world economy has been affected by various crisis phenomena, which are currently forming as a consequence of the pandemic crisis, followed by the energy crisis, and the military conflict between Russia and Ukraine. Inevitably, this economic cataclysm has some influence on the global aviation insurance market. The recovery process of the global airline industry can be considered /seen as a beneficial factor in this context. At the same time, it is necessary to take into account the existing risk factors in this field of economic activity. Among the most important areas of adjustment in the aviation insurance market are the consequences of the pandemic crisis, cyber risks and the impact of the military conflict between Russia and Ukraine.
Aviation insurance represents a special form of activity related to providing financial protection for companies operating in the aviation field. Aviation insurance is intended for the aerospace industry to cover the risks associated with its activities. It provides general liability coverage for air transport of passengers and cargo; losses caused by military operations or terrorist activities; physical damage; and liability to passengers and third parties. The recent changes in the global market situation, influenced by a complex of factors, determine the general development of aviation insurance. On the other hand, rising costs in aviation insurance and limiting the activities of service providers may hinder market growth in the medium term.
For five years now, the world economy has been affected by various crisis phenomena, which are currently forming as a consequence of the pandemic crisis, followed by the energy crisis, and the military conflict between Russia and Ukraine. Inevitably, this economic cataclysm has some influence on the global aviation insurance market. The recovery process of the global airline industry can be considered /seen as a beneficial factor in this context. At the same time, it is necessary to take into account the existing risk factors in this field of economic activity. Among the most important areas of adjustment in the aviation insurance market are the consequences of the pandemic crisis, cyber risks and the impact of the military conflict between Russia and Ukraine.
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