lml@lancaironline.net Mailing List Archive

<<<<<<<<<<<<<<<<--->>>>>>>>>>>>>>>> << Lancair Builders' Mail List >> <<<<<<<<<<<<<<<<--->>>>>>>>>>>>>>>> Gentlemen, I have been in touch with several of you who have expressed an interest in starting what can loosely be called "The Lancair Association". The concept would be to reduce our insuance costs through collective bargining with the insurance industry. What in essence we would be doing is offering a select group of underwriters a shot at a volume of business which was has better trained pilots and more closely inspected aircraft than the mean average insurance risk. They would in turn offer preferred rates for the association. In addition to saving us money in the short term this could well be the only way we can ensure that we will have insurance available for the long term. Once any company takes a million dollar hit like AVEMCO did they will bail out of the market. Making our planes and ouselves safer is the only solution. I have spoken to several insurance executives and the following is an outline of what we could do and what could be expected. 1) PILOT QUALIFICATIONS: At present all insurance companies require roughly 1500 TT with an instrument rating plus a check ride with a "factory approved instructor" who can be anyone including the guy who sold you the kit. I would propose that we increase this training to include the following: a) 2 day ground school on aircraft systems followed by a written test. b) 3 days initial flight training to include not less than 15 hours flight time covering basic adaptation to the Lancair aircraft, high altitude considerations, emergency egress training etc. c) 2 days advanced flight training covering instrument procedures including not less than 8 hours flight time d) Flight test to the same standards required for an instrument check ride except it is of course performed in the Lancair. I would further suggest that the training be administered by non-factory employees to avoid any conflict of interests and who are CFII's as well as Lancair experts with not less than 500 hours TT in type. Names like Charlie Kohler and Dave Morass come to mind though I am sure there are others. 2) AIRCRAFT INSPECTION: All insurance companies require a minimum of 10 hours ont he aircraft before they will bind in motion coverage. They also require an inspection but the exact type of inspection remains a vague gray area. I would propose that an experienced inspector holding a DAR certificate perform an inspection of not less than 3 days which would include partial dis-assembly and flight testing. Evaluation would include instrument testing to IFR certification by an experienced avionics shop and engine inspection by a qualified TCM approved shop. Things like actual fuel capacity etc. would be looked at in fine detail. Again I think these inspectors should not be factory employees nor should they be professional builders and folks like Charlie Kohler, Doug Weeldryer and Bill Maddox are names we should consider. WHATS IN IT FOR US? Aside from the fact we might all STAY ALIVE, the insurance companies are willing to entertain a 10 to 15% discount which amounts to $1500 to $3000 depending on policy limits in annual savings. What they are telling me is that we would need to demonstrate a viable group of 100 or more members and write a guideline such as cited above. They would offer 10% for new aircraft and 15% for all aircraft once they had a total airframe/pilot time of 150 hours on the actual aircraft. (This extra discount is because the majority of accidents are in low time airframes) WHATS IT GONNA COST US? Well its hard to examine what a life is worth in economic terms but you can figure the training component is going to come in around $7500 and the inspections another $2500. So for $10,000 you will be a better trained pilot and the savings on insurance will pay for the cost in about 3-5 years. Plus as I said earlier it may well be the only way to ensure long term insurance availability. From where I sit since we all spent $300K to $500K for our planes we have to insure them...it just makes sense. HOW DO WE DO IT? I would be willing to provide a shell corporation as an operating entity (to provide a buffer against potential liability for the trainers and inspectors) as well as secretarial staff for the association. Beyond that we should be able to make a go of this with minimal to non-existant membership costs. More importantly can we get a large enough group together? I would suggest that if you are intersted reply to this list with your interest, suggestions and type of plane and I will keep track of the numbers. If they look viable we can take the next step. Looking forward to your thoughts. Dave Riggs Beverly Hills, CA. LML website: http://members.olsusa.com/mkaye/maillist.html LML Builders' Bookstore: http://www.buildersbooks.com/lancair Please remember that purchases from the Builders' Bookstore assist with the management of the LML. Please send your photos and drawings to marvkaye@olsusa.com.