----- Forwarded Message ----
From: Jon R. Harden <jharden@AIR-PROS.com>
To: Charlie Kohler <charliekohler@yahoo.com>
Sent: Monday, May 4, 2009 2:14:39 PM
Subject: Lancair IV-IVP Insurance

Charlie:
As you know, one of our new underwriting companies, XL Specialty, showed an
interest in writing Lancair IV and IVP for us and in fact we did write a few
with them. However, they did not fully understand the risks they were
underwriting (the specific make and model Lancair aircraft) and were not
prepared for the onslaught of business that suddenly came to them. As a
result, after their internal discussions and review, they have decided not
to continue writing Experimental Lancair aircraft at this time.  Although
both of us have been working diligently on trying to get more insurance
options available for Lancair owners, this one did not work out as we had
hoped. The good news is that with your efforts we now have Aerospace
Insurance Managers offering terms to many Lancair owners. With both AIG (now
AIU Holdings) and Aerospace Insurance Managers in the Lancair insurance
market, owners still have viable insurance coverage available. I am very
hopeful that we may eventually be able to interest other underwriting
companies to look at writing Lancairs as well.  Thanks again for your
efforts and support!

Jon Harden
Aviation Insurance Resources

ph  301.682.6200
fax 301.682.9793
email:  jharden@AIR-PROS.com
www.AIR-PROS.com

**  We now offer Pilot Life Insurance with no aviation exclusions.  Please
contact us for more information. **


-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
 
Here's the way I interpret all this.
 
AIG is nearly doubling the rates (I was quoted $12,500" and has established "requirements" on policyholders. Tied to HPAT for flight training and Lancair Maintenance for inspections. They are considering pulling out of the Lancair market entirely.  
Aerospace is writing policies for Lancair's at about one third less (I was quoted $10,000) than AIG. However, they have a high deductible ($30000). They have a reasonable/ no requirements.  
XL Specially was only in the market for two or three days. Good rates/low deductibles and no requirements. It's a shame we couldn't keep them. Jon's letter tells why.