Parker_Woodruff

Aviation Insurance Market Update

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So I'll write a summary of what I do as a CFI:

I carry a non-owned aircraft policy.  It's in the name of Airspeed LLC, Airspeed Insurance Agency LLC, and Parker Woodruff.  Why?

I might be flying as a CFI, I might be flying as an insurance agent.  And I might be flying in my friend @DonMuncy's plane just for fun, not under the operations of Airspeed LLC or the insurance agency.

It lets me fly any aircraft up to 7 seats, 12,500 pounds, SEL or MEL.  It covers me for aircraft physical damage up to $250,000 and covers my flight and professional liability to $1MM Each Occurrence limited to $250,000 Each passenger bodily injury.  It also has medical payments at $10,000 which would include myself if I needed it.

If I fly an aircraft worth more than $250,000,, I specifically request a Waiver of Subrogation.  I do this realizing that most aircraft insurance policies will not allow for subrogation on me as the CFI.  Here is why they won't:

  1.  If I am a named pilot, I am often included as an Insured in the "Who is covered" section of the policy.
  2. Many policies extend a waiver of subrogation to all named pilots.
  3. It is nearly impossible for an insurance company to sue someone "who is covered"
  4. I say all of the above knowing who insures the people I fly with and therefore I know the specifics of the policy language already.  For any other CFI out there, I highly recommend requesting the aircraft owner you're flying with add you as additional insured with waiver of subrogation.
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On 10/22/2019 at 8:44 AM, MIm20c said:

After over a decade with Falcon I’m changing over two policies to the OP this year.  He has already given us a level of customer service unheard of in the industry.

I'm sorry the answer to your question wasn't what be both hoped to hear, but I'm glad I could help.  Looking forward to working with you.

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1 minute ago, chriscalandro said:

Thank you Parker. The way I’m reading this is that we’re all a little right and we’re all a little wrong. 
 

but this clears up a lot. Thanks!

Glad I could help.  It mostly comes down to how much business risk the CFI wants to take on and how much liability risk the aircraft owner is comfortable with.

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I’ll add though,

it doesn’t change my mind about the hired gun CFI. From what I’m reading here it still sounds like adding the instructor to MY insurance makes MY policy responsible for a mistake made by the instructor. And that I don’t agree with. 
 

I believe a hired gun working as a business should have the appropriate coverages. If you want to include that in the training rate that’s fine  using the demonstration example again, if the instructor turns my airplane into a ball of metal while demonstrating something to me, you can bet I and my insurance will go after the damages. And I don’t think that’s wrong. 

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