Travelers raises limit for airplane hull insurance to $50M
NEW YORK—Travelers Cos. is boosting the limit of the value of airplane hulls it is willing to insure as part of an expansion of its aviation insurance business, the company said Monday.
The St. Paul, Minn.-based insurer is now willing to cover damage of up to $50 million on aircraft hulls. The previous limit was $20 million.
The increase will allow Travelers to insure bigger planes like the Gulfstream 550, the Falcon 7X and the Bombardier Global Express, the company said.
Travelers said it raised the limit because of growing demand for aviation insurance.
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