information:extraction
General aviation

The trend toward strict liability in the United States during the mid to late 20th century nearly destroyed the small aircraft industry by the mid 1990s. Production had dropped from a peak of 18,000 units per year in 1978 to under only a few hundred by 1993. With a concurrent increase in the cost of liability insurance per airplane rising from $50 in 1962 to $100,000 in 1988, and many underwriters had begun to refuse all new policies.