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Climbing Every Mountain: A History of Change, Transition and the Rise of Consumerism in the Airline Industry Viewed from the Insurance Perspective

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Chapter Summary

As a collective of insureds generating an annual premium volume of approximately USD 1.6 billion for the insurance industry, the transition of its client base with its now mandated focus on consumerism has not gone entirely unnoticed. This chapter focuses on the insurance industry that has actively and adequately responded over the decades to the change. The new convention addressed the United States Government's long standing concern about the inability on occasion of US residents being unable to access US courts following a "foreign accident". With the issue of passenger liability for death and injury seemingly behind it, the focus centered on comparatively mundane matters. Improvements in technology, the restructuring of the airline industry and the rise of consumerism left their mark on the airline industry; insurers should ensure they stay abreast of those changes and remain a key player in that dynamic industry.

Keywords: airline industry; consumerism; foreign accident; insurance industry; insureds; United States Government



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