REFLECTOR: Velocity Insurance

[Chuck]

I spent 30 yrs as an insurance agent/broker and I couldn't understand AIG 
who I competed with regularly. AIG is the largest insurance company in the 
world, but sometimes the right hand doesn't know what the left hand is 
doing. There are many groups within AIG who sometimes accidently compete 
with one another. It could be that the AIG's London office set up a deal 
thru a big broker for AOPA to insure V's and other experimentals (or all 
types of airplanes) under a blanket group program.  AOPA can provide access 
to a lot of customers, so they can get a huge volume/premium to spread their 
risk. The insurance market is now softening (lower pricing and better terms) 
because of last years overall good results, not necessarily aviation or 
experimentals.

I've been buying mine coverage for several years thru Falcon (broker) who 
has a deal with AIG, but I know the AIG underwriter has set terms that 
requires particular conditions (preflight training, ratings, etc.) because 
he's directly responsible for the loss ratio.

Anyway, it pays to check around, but if you have a good deal, you should 
probably stick with it because when the market hardens, the carrier 
(insurance company) will generally not cancel a good customer. By the way, 
it doesn't have to make sense.

Chuck H