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Aircraft insurers brace for deluge of Russia claims
Lessors of planes stuck in Russia since the onset of sanctions have warned insurers of possible claims to come if the jets are not returned. Insurers, meanwhile, are cancelling some policies, including for war risk, and may challenge claims on coverage still in force, industry participants said.
"The magnitude of potential loss here is staggering," said Garrett Hanrahan, global head of aviation and space for insurance broker Marsh, a unit of Marsh McLennan. "This could potentially be the biggest aviation insurance loss in market history."
