Airlines are reported to be facing steep hikes in their insurance bills in the wake of the loss of two Malaysia Airlines aircraft earlier this year.
The disasters are expected to end up costing insurers as much as £450 million.
Broker JLT said rates covering war risks – often bought separately from standard insurance policies – have doubled in some cases.
Rates for hull and liability risks for airlines were up by 13% on average in the year to October, the Mail on Sunday reported.
Lloyd’s of London specialist underwriters insuring war risks have paid out 10 times as much for claims on the two crashes this year as they take in annual premiums and they want to recoup their losses.
Airlines are charged a total of about £830 million a year for insurance. Premiums have been falling in recent years amid improved safety levels.
In addition, investors have piled cash into insurers, provoking intense competition.
Nigel Weyman, chairman of the aerospace division at JLT, said: “It’s been a bad year with the two Malaysian losses. There’s been a change in the direction of the market.”
All 298 people on board a MAS aircraft were killed when it crashed in Ukraine, close to the Russian border, in July.
Underwriters have also agreed to pick up some of the cost of flight MH370, which vanished without trace en route from Kuala Lumpur to Beijing in March with 239 people aboard. The cause of the disappearance remains a mystery.