Parker_Woodruff

You probably have some 100 hour ADs, so at least make sure to do those. I'd certainly have the airplane looked at every 50 hours at oil change, but some things probably aren't necessary, like removing the entire interior to inspect for corrosion.

Second time I've heard about this plane and no one has gotten to the bottom of if the owner has insurance on it or non-owned coverage in some form... If it's a covered loss, insurance will pay for the teardown and any corresponding damage.

A few things: - Cost of parts & labor - Most shops are incredibly busy right now. There's not a lot of "aggressive" quoting right now to try and win business. A lot of clients can't even get shops to respond to requests for estimates. It wouldn't surprise me. I insure a shop which specializes in Beechjets. They can't get tires for them right now.

There is a new underwriting company surfacing, but it's unknown at the present time if they'll be participating in personal GA aircraft insurance. Another carrier is expanding its operations to cover more lines of aviation business, but unknown if that will include personal GA aircraft. At this point, my feeling is that the hard market has more or less run its course, and any price increases at this point for personal GA aircraft would be more reflective of claim inflation than market capacity. Capacity is, for now, poised to increase. I'm quite concerned about the claim costs. I've never seen such a steep jump in repair estimates.

Measure twice cut once... Do it right the first time... sadly, none of that happened...

The trainer market will be strong for awhile. That's where 95% of efforts need to go for Mooney. They've missed a massive opportunity, but it's not too late...

statistics are tough to find in aggregated form...but I can tell you from recent repair quotes, the cost of repair is getting exceptionally high.

I sold my mini 4 and pre-ordered the most recent mini (wifi only)...should get it in a couple/few weeks.

No - it's a super frustrating situation to be in...a lot of times there isn't a lot of care in removing airplanes that have gone gear up...more damage gets done than there was to begin with.

This is more limit-dependent than anything. I've never seen a company surcharge for flying too much in the personal piston GA world. But if you carry higher than the baseline $1MM/$100K, you might get looked at for inactivity below maybe 50 hours per year...

Occasional...seems like some of the J and later Mooneys are getting a few dollars less expensive in some cases.

Yeah trying to keep service up here in the business I can't make a primary student work, unfortunately. Still not even quite ready to get back to the more limited CFI work I was doing...maybe next year; we'll see.

It doesn’t have to be solved by premium alone. It can also be solved with making high liability limits less available. for awhile any flight department could get $100MM to $300MM in liability coverage. Now it costs so much that many are trimming to say $50MM. Owner-flown turbine operators could get $10MM no problem. Now that’s being trimmed. The days of carriers fighting for business by saying “I’ll give $150MM in liability coverage for the same price as they’re paying for $100MM with our competitor” are done.

Anecdotally, there seems to be a high rate of operational losses with older pilots. I don’t think aggregated data like this exists. Internally, insurance companies can, at best, note a trend. Actuarial data can be found in the auto insurance world…and I imagine atrophy of skills isn’t just limited to auto drivers. Insurance companies are getting close to the premiums they want…they're not going to chase outlier business if they don’t have to. Imagine working for a publicly traded company and your initials show up next to a claim on the daily loss report. Do you want to be the one that signed off an outlier for a few thousand in premium and now you’re looking at $1MM+ in claim reserve? There are a lot of competent, proficient UFOs. There are sadly quite a few who are not. And there are CFIs that shouldn’t have signed off their last flight review…

Tim, This could be a challenge getting a carrier to write you as new business at age 80 and not require a 3rd class (or higher) medical certificate.

Look at flight school rates, for example. The boom in training led to probably 10-50% more hours flown per plane, depending on the fleet. Students have accidents at the same rate per hour. Accordingly, I'm seeing big increases & tight underwriting in flight schools. So that type of activity will make up a big chunk of the premium.

I'm not sure where that one would be booked, but it probably doesn't have the same quota-share setup as the airlines do, for sure.

I'll send you a message

Here is the Milliman Report for United States general aviation insurance in 2020. According to the report, there is $2.1B of insurance attributable to GA in the USA with admitted carriers (non-Lloyds & Surplus Lines types of premium). Underwriting losses industry-wide were $52MM last year which was a significant improvement from $285MM the year before. The Nashville Tornado accounted for $100MM in losses in 2020. PDF Report from Milliman https://us.milliman.com/en/insight/united-states-general-aviation-admitted-market-summary-of-2020-statutory#

We can get this done. It will either be expensive-ish or expensive. But it can be done. I'm thinking expensive-ish since he's got 100 hours and the value is in the low-mid $100K range. Parker@airspeedinsurance.com

No idea. Probably not too often. Anecdotally, I rarely see these things make it to court except when product mfrs are accused...

$1MM smooth on a SERG with no instrument rating in this market is basically limited to 1-2 good carriers...and they know it...

Regarding the posts above with pilot age, there is a strategy depending on the type of aircraft you fly. We start the planning and making decisions at age 64, do a checkup at 68/69, review again at 74 and 79.

Almost every aviation insurance policy, at least every carrier we deal with, does not subtract defense cost from the liability coverage they will pay. Defense cost to the insurance company is unlimited.

Get $1MM Smooth and then have your broker get an excess policy.