Taking Inventory of 2021
As we wind down yet another year, it’s safe to say that 2021 was a unique year in many ways. We won’t wade into all the ways this year made an impact. For our part in the aviation insurance industry, it may have felt like we we’re piling on. A continued hard market at an inopportune time. Rate increases, capacity reductions, coverage restrictions all during a stretch when revenue-generating hours were barely coming back to pre-COVID levels. The good news is that during this stretch of impacted months, our proprietary programs (primarily SmoothPay) were an invaluable tool in helping several clients navigate these waters.
As brokers, we (unfortunately) don’t set the rates, but there are other things we can do to help. Specific to us, we’ve deployed several measures that have helped clients navigate months that would have otherwise strapped them financially. Although I wish we could do more, I know from numerous testimonies that we’ve helped many people stay in business and make whatever money was out there. For that, we’re glad we could help, if even in a small way.
As we look to 2022, our hope is that, together with revenue-generating hours returning to some version of normal, the insurance market will also soften a bit. It’s something we can all look forward to next year. In the meantime, if there is anything you need or if you have any questions, then please give us a call. We look forward to continuing to be an asset to anyone who will give us an opportunity, and we hope our partnerships continue to add value to your operation.