“The findings highlight a continued shift towards risks that are systemic, interconnected and often originate outside the aviation sector itself. Geopolitical instability, claims inflation, cyber threats and supply chain disruption all have the potential to create cascading impacts across airlines, manufacturers, airports and insurers simultaneously”Florian Zierer, Co-Chair of the IUAI Cyber and Emerging Risks Study Group, Aviation Underwriter at Swiss Re, and Co-Author of the report
London: An IUAI Cyber and Emerging Risks Study Group (CERSG) Survey has revealed a significant shift in the aviation insurance landscape as systemic risks increasingly shape underwriting priorities and market outlook.
Based on responses from 106 aviation insurance and reinsurance professionals worldwide, the IUAI Cyber and Emerging Risks Study Group 2026 Survey: From Isolated Perils to Systemic Stress,was prepared by the International Union of Aerospace Insurers (IUAI) together with the International Underwriting Association (IUA) and Swiss Re.
The results, which were published today, finds that geopolitical, economic and operational pressures are increasingly interconnected, creating new challenges for aviation insurers, reinsurers and operators alike.
Tom Hughes, Co-Chair of the IUAI Cyber and Emerging Risks Study Group, Director of Underwriting at the International Underwriting Association, and Co-Author of the report, said,”Now in its third year, the survey reveals meaningful trends in how the aerospace insurance market views both emerging risks and future opportunities. While concerns around geopolitical instability, inflation and supply chain disruption have become more prominent, there is also a clear and consistent message of optimism. For the third consecutive year, respondents identified artificial intelligence, new aircraft technologies and growing demand for aviation services as the sector’s greatest opportunities.”
“As the IUAI’s membership continues to grow, now representing more than 90% of the global aerospace insurance market, the survey provides an increasingly representative picture of industry thinking,” highlighted Huges.
Florian Zierer, Co-Chair of the IUAI Cyber and Emerging Risks Study Group, Aviation Underwriter at Swiss Re, and Co-Author of the report, said,”The findings highlight a continued shift towards risks that are systemic, interconnected and often originate outside the aviation sector itself. Geopolitical instability, claims inflation, cyber threats and supply chain disruption all have the potential to create cascading impacts across airlines, manufacturers, airports and insurers simultaneously.
“Understanding those connections, and how they may influence future loss trends and market resilience, is critical for insurers, reinsurers and aviation operators alike. The results show a market that is not only adapting to a more complex risk environment, but also actively identifying new ways to support innovation, resilience and sustainable growth across the aerospace sector,”added Zierer
Key findings from the 2026 survey include:
-Geopolitical instability and war is now the aviation sector’s most significant threat, receiving 79 first-place votes – the strongest result recorded since the survey was launched in 2024.
-US claims inflation emerged as the greatest challenge facing aviation (re)insurers, ahead of market conditions and rate adequacy.
-Supply chain and manufacturing issues entered the industry’s top three threats for the first time, highlighting ongoing concerns around aircraft production, maintenance and repair capacity.
-Operational resilience remains a major concern for airlines and airports, with air traffic control issues, infrastructure constraints and workforce shortages identified as the most urgent risks requiring attention in 2026.
-Artificial Intelligence (AI), new aircraft technologies and growing demand for aviation services remain the sector’s greatest opportunities, marking the third consecutive year these themes have topped the rankings.
The findings suggest aviation risks are increasingly being driven by external geopolitical, economic and technological developments rather than traditional aviation-specific exposures.