This report will discuss the future of the aviation industry and the effects of high insurance costs. As the industry cruises through this new age of aviation, the insurance industry must look at several problems facing those in aviation. Survival for the small FBO?s is getting harder each day; the threat of financial disruption is real when it comes to lawsuits. General aviation may be forced to change its way of doing business and become more like the military and commercial airlines. There is a great hope that society will change their attitude towards the aviation industry and the litigation that surrounds the industry.
Insurance and the Future of Aviation:
The aviation industry, as it is known today, has grown into a set of different industries. Modern aircraft range from military, commercial, and general aviation. Aviation has come a long way the last 100 years. The industry is still developing, with growth comes problems that must be solved before the industry can go to the next level. As the industry enters into a new era of aviation, the insurance industry must look at several problems that face the aviation industry.
Legal concerns, in many cases, are influenced by
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