LONDON, UK. Airline operators worldwide have given their aircraft insurers blank cheques to cover the increasing frequency with which war risk additional premiums have to be paid.
The move, described by insurance industry types using such phrases as “cut through bureaucracy”, “synergise logistical efficiency”, “leverage our relationship with their wallets. No wait, don’t quote me on that”, came after operators collectively gave up trying to keep pace with the ever increasing costs.
Insurers defended the move, of course, citing an unusual spike in insurance payouts this period against previous years. “It doesn’t matter that we were hugely profitable in previous years”, explained Bob Hennessy-Jones, Chief Underwriter for KMS group. “If this year’s income isn’t forecast to cover payouts, up goes the premium”. (*)
*to the tune of Pop Goes the Weasel.