WIX Archives
Richard Paver's article in AM Jan 2004 on the future of
Posted by Paul McMillan on Tue Dec 02, 2003 06:07:49 AM
In reply top null posted by null on null
the warbird market. Made thhe important point that Insurance costs is the thing that could cause termination the industry.. He quoted cover for 3rd party liabilty and hull that can exceed ?30,000 per annum :-0!
As a result some people only insure 3rd Party... Anyway, is it possible that groups of people get together (and put in bunch of money) to form their own insurance company specialising in warbirds.. They could then get a re-insurance for the 3rd party (probably much cheaper as a whole than separate) and just cover the the Hull insurance... also it would be a Not for Profit, so only overheads and no shareholders to pay...
And at the high level, it would only cover certain risks.. Like excluding ground loops.. or have a 10K excess and making sure mandatory safety courses were taken...
Just a thought,dunno if possble