The more things change the more they remain the same: As an aviation underwriter back in the 1970s, I often underwrote FBO aircraft liability insurance on a “flight hour” basis.
It’s gratifying to hear about the availability of another exposure unit that proportions premiums to the amount of individual risk-producing activity–metered flight hours in the case of airplane use. I also appreciate Mr. Vaughn’s confirmation that this sensible exposure unit was used in the past as an alternative to the one-size-fits-all airplane year unit.
Similar comparison can be made in auto insurance between the traditional car-year unit, which measures nothing about the annual risk produced by each individual car, and the odometer mile exposure unit. More on the these alternative exposure units is available at http://www.CentsPerMileNOW.org and http://www.MileMeter.com.
The more things change the more they remain the same: As an aviation underwriter back in the 1970s, I often underwrote FBO aircraft liability insurance on a “flight hour” basis.
It’s gratifying to hear about the availability of another exposure unit that proportions premiums to the amount of individual risk-producing activity–metered flight hours in the case of airplane use. I also appreciate Mr. Vaughn’s confirmation that this sensible exposure unit was used in the past as an alternative to the one-size-fits-all airplane year unit.
Similar comparison can be made in auto insurance between the traditional car-year unit, which measures nothing about the annual risk produced by each individual car, and the odometer mile exposure unit. More on the these alternative exposure units is available at http://www.CentsPerMileNOW.org and http://www.MileMeter.com.