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Insurance (from a biased perspective)

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tomjohnson(at)cox.net
Guest

Posted: Sat Mar 11, 2006 5:29 am Post subject: Insurance (from a biased perspective)

Did somebody say  Insurance?

 No wonder I couldn't  sleep. . .

  

 Both AIG and US  Specialty provide coverage for Yak / CJs.

 AIG has chosen not  to compete with US Specialty (USSIC) on price.

  

 I have worked with  USSIC for many years and I have never seen them "screw" a pilot on a  claim.

 I have seen the  opposite, and I have seen people unhappy with the premiums they  charge.

 I have seen other  companies decline coverage for marginal reasons.

 The claims support  staff is extremely professional at USSIC (Claims are handled by CTC Aviation  Services).

  

 USSIC has gone out  of their way to find a way to pay-out and settle their claims in every one I  saw.

 I've only been  through dozens, (hundreds?) claims with them so perhaps my experience is  limited.

 There are problems  from time to time and we almost always found a suitable  solution.

 They aren't perfect  and I understand frustration with insurance companies.

  

 We have about 10  companies that write ALL of the domestic aviation insurance.

 There are probably  1000 or more for home and auto.

 The other companies  have made a business decision to either stay out of aviation, or stick to  certified aircraft.

 Nothing prevents  them from jumping in to the market except market forces.

  

 In fact, nothing  prevents USSIC from jumping OUT of warbird insurance . .  or Yak/CJ  insurance for that matter.

 It would be a  problem if that happened.  It has come up from time to  time.

 USSIC has been great  about working with pilots who lack the minimum Total time or Retractable gear  time for the underwriters.

 In some cases this has contributed to our poor loss  ratio.

  

 But, our fatal  accident rate is low, with the exception of our friend Rodger most  recently.

 Historically  the Yak and CJ share a similar accident ratio, from my  experience.

  

 So.

 FOD Check,  watch your prop, triple check your gear.

  

 Oh, you'll be  glad to hear I'm sure, hell has frozen over. . . its raining in  Phoenix.

  

 Tj



 ---------------------------

Thomas Johnson

Airpower  Insurance, LLC

36 West Ocotillo Road

Phoenix, AZ   85013-1235

Tel:  602-628-2701

Fax:  623-321-5843

E:   tomjohnson(at)cox.net

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shinden33(at)earthlink.ne
Guest

Posted: Sat Mar 11, 2006 9:29 am Post subject: Insurance (from a biased perspective)

Hell  has truely frozen over.  It was snowing at Edwards AFB and Palmcaster  yesterday.

  

 S

 [quote]   --

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dabear(at)damned.org
Guest

Posted: Sat Mar 11, 2006 11:53 am Post subject: Insurance (from a biased perspective)

Yes they have insured people with low time, low HP time, and low retract

time.    I'm glad they do.  I purchased my Yak-52 with less than 180

total hours, only 20 or so retract and less than 30 HP.  I paid more,

but I don't think it was unfair.  Then again, I don't like paying for

insurance, but I want it to be there.   



Now with 1,000 hours and over 700 in yaks (CJ too) it isn't hard to get

insurance.  But I still hope to keep up the "clean" record each year.



DaBear



Tom Johnson wrote:



 	  Quote: 	
		   Did somebody say Insurance?

 No wonder I couldn't sleep. . .

  

 Both AIG and US Specialty provide coverage for Yak / CJs.

 AIG has chosen not to compete with US Specialty (USSIC) on price.

  

 I have worked with USSIC for many years and I have never seen them

 "screw" a pilot on a claim.

 I have seen the opposite, and I have seen people unhappy with the

 premiums they charge.

 I have seen other companies decline coverage for marginal reasons.

 The claims support staff is extremely professional at USSIC (Claims

 are handled by CTC Aviation Services).

  

 USSIC has gone out of their way to find a way to pay-out and settle

 their claims in every one I saw.

 I've only been through dozens, (hundreds?) claims with them so perhaps

 my experience is limited.

 There are problems from time to time and we almost always found a

 suitable solution.

 They aren't perfect and I understand frustration with insurance companies.

  

 We have about 10 companies that write ALL of the domestic aviation

 insurance.

 There are probably 1000 or more for home and auto.

 The other companies have made a business decision to either stay out

 of aviation, or stick to certified aircraft.

 Nothing prevents them from jumping in to the market except market forces.

  

 In fact, nothing prevents USSIC from jumping OUT of warbird insurance

 . .  or Yak/CJ insurance for that matter.

 It would be a problem if that happened.  It has come up from time to time.

 USSIC has been great about working with pilots who lack the minimum

 Total time or Retractable gear time for the underwriters.

 In some cases this has contributed to our poor loss ratio.

  

 But, our fatal accident rate is low, with the exception of our friend

 Rodger most recently.

 Historically the Yak and CJ share a similar accident ratio, from my

 experience.

  

 So.

 FOD Check, watch your prop, triple check your gear.

  

 Oh, you'll be glad to hear I'm sure, hell has frozen over. . . its

 raining in Phoenix.

  

 Tj

 ---------------------------

 Thomas Johnson

 Airpower Insurance, LLC

 36 West Ocotillo Road

 Phoenix, AZ  85013-1235

 Tel:  602-628-2701

 Fax:  623-321-5843

 E:  tomjohnson(at)cox.net

- The Matronics Yak-List Email Forum -

Use the List Feature Navigator to browse the many List utilities available such as the Email Subscriptions page, Archive Search & Download, 7-Day Browse, Chat, FAQ, Photoshare, and much more:

http://www.matronics.com/Navigator?Yak-List

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