Return-Path: Received: from YCC.COM (www.ycc.com [204.155.150.41]) by truman.olsusa.com (Post.Office MTA v3.5.1 release 219 ID# 0-52269U2500L250S0V35) with SMTP id com for ; Wed, 16 Dec 1998 11:01:48 -0500 Received: from YccPrimaryDomain-Message_Server by YCC.COM with Novell_GroupWise; Wed, 16 Dec 1998 10:07:51 -0600 Message-Id: Date: Wed, 16 Dec 1998 10:07:34 -0600 From: "Bill Gradwohl" To: lancair.list@olsusa.com Subject: Disappearing Insurance Mime-Version: 1.0 Content-Disposition: inline X-Mailing-List: lancair.list@olsusa.com <<<<<<<<<<<<<<<<--->>>>>>>>>>>>>>>> << Lancair Builders' Mail List >> <<<<<<<<<<<<<<<<--->>>>>>>>>>>>>>>> >> If the IV is having a problem with insurance coverage, then I suspect that there are other high performance planes in a similar situation. Has anyone considered getting these insurance orphans together to form their own risk pool? I won't call it insurance because the government regulates the insurance industry (to that industry's benefit). A civil contractual arrangement between all the parties limiting liability to whatever is agreed upon should at least provide coverage for true accident situations. Things like wheels up landings, fuel exhaustion, and other brain farts could be explicitly excluded. Acceptance could be based upon finishing some training course and recurring training or other measure of proficiency. Putting the controlling entity off shore should get rid of nuisance regulations. Initially make the coverage more expensive than usual to cover the risk, and invest the funds collected in some interest bearing instruments. After a few years (with some luck) rates might go down for those that "invested" the longest. It's a bit like a mutual fund only the fund has to pay for agreed upon losses. Because it's a fund, the money put in can be viewed as any other speculative investment, and individuals might consider putting in $10,000 up front even though insurance coverage (if it were available) might only cost $5,000. The money spent on insurance is an absolute loss to us, but the money invested in the fund could produce a profit. There might even be a small psychological effect that would make investors (pilots) more careful about not jeopardizing their investment, and reduce the accident rate. Properly structured, there might even be some tax advantages for profit or loss. Just an idea. Bill Gradwohl IV-P Builder N858B