Alan Webb, managing director of Heath Lambert aerospace, said: "If the scheme is not renewed that would mean a lot of business floating back into the commercial markets, and it is likely that Lloyd's will benefit most."
It comes a week after Britain's airports were brought to a standstill by an alleged terror plot. Despite massive disruption to hundreds of flights, insurers will escape paying any claims.
"Nothing happened in terms of an actual event," said Webb. "We wouldn't allow cover for a non-event."
