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<< Lancair Builders' Mail List >>
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Hi All,
We've been having a discussion over on the Glasair list about Avemco and
insurance coverage. This problem applies to all of us and I thought you guys
might be interested in some of the issues. BTW, it's my understanding that,
as of today, AVEMCO will not write a new in-flight policy for ANY Lancair,
Glasair, or Glastar reguardless of pilot experience.
Bruce
Glasair III
*******
From: "Bruce Gray" <bruce.gray@snet.net>
Lloyd and others,
I think the problem with AVEMCO is just the tip of the iceberg. On some of
the other forums (Lancair list, rec.aviation.homebuilt) builders are being
told that Avemco has a moratorium on all new policies for experimentals.
If I had an Avemco policy, I'd be running to other companies, right now, to
get my coverage switched.
We may face a future, like the warbird guys, where no insurance company will
write us insurance. Perhaps we should be now looking at alternative ways of
meeting our needs. Either buy forming an association and marketing our
airplanes, as a pool, to insurers, or by forming a captive insurance company
and doing our own underwriting.
This effects all of us. For without insurance, our planes value goes down,
our personal risk exposure goes up, and no one will be able to buy them,
because, without hull insurance, no bank will lend.
Bruce
Glasair III (uninsured)
-----Original Message-----
From: flying Listmanager [mailto:listmanager@forums.glasairnews.com]
Sent: Thursday, March 14, 2002 8:39 PM
To: Recipients of 'flying' suppressed
Subject: Insurance
From: "Lloyd Wimberly" <lwimber931@earthlink.net>
Gene:
You ask what type of insurance, I assume you mean what kind I was inquireing
about from AVEMCO, It was inflight insurance full coverage as opposed to
ground insurance for compresensive, (fire thift, wreckage from someone
running into it). Avemco stated they would only write GROUND policys, no
inflight insurance. And he said initally it covered all homebuilts then he
said it was especially for Glasair ( G-I,G-II and G-III and Lancair all
models.
The flight experence they required up untill two weeks ago was 600 hrs min.
with complex a/c type experience.
Lloyd
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