REFLECTOR: Velocity group aircraft self-insurance

[Scott Baker]

I'd like to pose a question to those in the Reflector family who might 
work or know of someone who is a qualified expert regarding aircraft 
insurance matters ...
Is there any merit to the idea that Velocity owners could form their own 
self-insurance group?
Might there be a large insurance company that could provide a group 
policy to cover general liability - with a limit of maybe a $10M payout 
each year.
Hull coverage would be administered by the group and have common sense 
cost saving provisions - such as a 20% deductible on claims and repair 
appraisals that would pass factory scrutiny.
I'm thinking if 100 owners were to form a self-insurance group, each 
submitting (as an example) an average premium of $3,000, this in my mind 
could pay off the insurance company that looks after liability, and add 
$250,000 into a hull payout account.
Assuming we (as a group) can avoid 'totaling' less than one aircraft per 
year, the hull payout account would build itself up to the point where 
premiums could be adjusted and savings are passed back to the group 
members in the form of lower premiums.

I know of businesses that self-insure health insurance for their 
employees.  Why not a self insurance (hull) plan for and by Velocity owners?
I imagine there are 101 items to consider - but might it be done?

Scott B.