REFLECTOR: Velocity Insurance - Good News

[Scott Baker]

Pat,
You are correct.  Falcon is an agency, not an insurance company - and 'yes', 
Falcon does represent AIG (along with other aircraft insurance companies).
Donn Gauger is our contact at Falcon - and he is a voice of reason and 
authority amongst ... well, amongst a Falcon swimming pool of fools for 
agents.  Sometimes it seems the only thing consistent about Falcon is their 
inconsistency when advising prospective buyers of insurance!  In this 
instance Donn Gauger gave the bad news to the Velocity builder that he did 
not qualify for insurance.  It does not make sense that this builder _was_ 
able to secure insurance from AIG without any difficulty.  AIG prefers to 
offer insurance through brokers like Falcon and AUA - however, AIG _will_ 
write direct.
SB


----- Original Message ----- 
From: "Pat Shea" <xl340hp at yahoo.com>
To: "Velocity Aircraft Owners and Builders list" <reflector at tvbf.org>
Sent: Thursday, June 21, 2007 5:32 PM
Subject: Re: REFLECTOR: Velocity Insurance - Good News


> Scott,
>
> I'm confused - Falcon is just an insurance agency and
> shouldn't set minimum requirements. They just shop the
> various underwriters for quotes. Underwriters, on the
> other hand, certainly have their own requirements.
>
> Falcon is my agent, but my underwriter is AIG.
>
> In the case you brought up, Falcon would have gone to
> AIG as there are only 3-4 underwriters that cover the
> Velocity market.
>
> Also, I called AIG directly a few weeks ago for some
> information. They were helpful but indicated that they
> don't write policies directly to individuals - you
> need to go through and agent "like Falcon."
>
> What am I missing?
>
> Thanks, Pat
>
>
> --- Scott Baker <sbakr at comcast.net> wrote:
>
>> That's fantastic news!
>> Offsetting the good news is a report from a Velocity
>> builder (Commercial, Instrument, CFI-I ... but with
>> only 25-hrs of RG time) who was turned down flat
>> from Falcon.  No insurance at any price.  Falcon
>> insisted on 100-hours of RG time before they would
>> consider offering insurance.
>> AIG Aviation stepped up and was quick to offer
>> insurance at reasonable premiums.  The builder has a
>> 310hp Velocity XL-RG.
>> SB
>
>
>
> 
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