Airline hull and liability premiums have soared by 20% and more during October and November placements, according to global broker Aon.

Its latest report on airline insurance reveals November is on track to be the seventh consecutive month with double-digit increases.

High loss numbers and market rebalancing following years of discounting were identified as two factors behind the surge in premium rates.

Losses for this year currently stand at $US1.63 billion ($1.77 billion), against $772 million ($838 million) at the same point last year.

“There is still capacity in the airline insurance market for clean risks with good loss histories, but underwriters continue to stick to their pricing strategies,” the report said.

“Where policies are perceived as representing a high level of risk, premium increases will continue to be significant.”