This all depends on what you consider “High Risk” Jumping out of a plane, bungee jumping, running with the bulls, those are obvious risk of course. But what about drinkers, over eaters or people at risk for heart attack or stroke. I am sure more people die from that then plane crashes…
Many companies take out Key Man Life on executives. I wonder if it were disclosed on the Life App that this guy was involved in a hazardous hobby. They probably thought they were just insuring an executive with a normal lifestyle. I don’t think I would write a Life Policy on someone involved in flying experimental aircraft. That is a claim waiting to happen.
I have been flying experimental aircraft for almost 25 years without incident……does this mean I am a claim waiting to happen? Do you know what the difference is between “experimental” aircraft vs. any other aircraft? Would you write a policy for anyone involved in flying an aircraft that did not have the word “experimental” in front of it?
There are lots of insurance companies out there insuring both pilots and “experimental” aircraft.
There are hundreds and hundreds of the specific type of aircraft this gentleman was flying out there still fying today….and people like me who have been flying them safely. As an insurance person, I would insure handfuls of these types of aircraft and pilots over insuring just one person with multiple DUI/DWI.
If I were an investor, I think I would want to know if the company had taken steps to place Key Man Life Insurance on all the executives of the company. Replacing a key man is an expensive proposition and the company usually suffers if one or more of them die due to illness or accident.
What an absurd article. Most experimental aircraft are superior in every way, more modern, improved technology, better construction than the old factory built aircraft dating back to the ’80s. Remember that the pilot is the “first to arrive at the scene,” so don’t you think that pilots, particularl those who make a hobby out of flying are extraordinarily careful Also consider that in the air, there is less chance of collision than while driving, and while flying an aircraft you are not in traffic with drug addicts, those who have just overundulged at the bar or that are distracted throug the use of their cell phones or who have childred and animals loose in their vehicle. Who ever wrote this article needs to think again. Resepectfully Mike Mansel
This all depends on what you consider “High Risk” Jumping out of a plane, bungee jumping, running with the bulls, those are obvious risk of course. But what about drinkers, over eaters or people at risk for heart attack or stroke. I am sure more people die from that then plane crashes…
Sounds like this guy Kingsley is talking about D&O liability insurance, not “key man”.
A company has no right to delve into the personal life of an employee, period.
As long as the employee (executive or not) is not breaking the law, then it should be hands-off.
Many companies take out Key Man Life on executives. I wonder if it were disclosed on the Life App that this guy was involved in a hazardous hobby. They probably thought they were just insuring an executive with a normal lifestyle. I don’t think I would write a Life Policy on someone involved in flying experimental aircraft. That is a claim waiting to happen.
That’s a different point entirely.
The main premise of the article is whether or not a CEO’s hobbies (IE personal life) should be disclosed to investors.
Their insurability by their employer is another matter entirely.
I have been flying experimental aircraft for almost 25 years without incident……does this mean I am a claim waiting to happen? Do you know what the difference is between “experimental” aircraft vs. any other aircraft? Would you write a policy for anyone involved in flying an aircraft that did not have the word “experimental” in front of it?
There are lots of insurance companies out there insuring both pilots and “experimental” aircraft.
There are hundreds and hundreds of the specific type of aircraft this gentleman was flying out there still fying today….and people like me who have been flying them safely. As an insurance person, I would insure handfuls of these types of aircraft and pilots over insuring just one person with multiple DUI/DWI.
I agree to some extent, public traded firms are held to a different standard than privately held counterparts. Those damn shareholders…….
If I were an investor, I think I would want to know if the company had taken steps to place Key Man Life Insurance on all the executives of the company. Replacing a key man is an expensive proposition and the company usually suffers if one or more of them die due to illness or accident.
What an absurd article. Most experimental aircraft are superior in every way, more modern, improved technology, better construction than the old factory built aircraft dating back to the ’80s. Remember that the pilot is the “first to arrive at the scene,” so don’t you think that pilots, particularl those who make a hobby out of flying are extraordinarily careful Also consider that in the air, there is less chance of collision than while driving, and while flying an aircraft you are not in traffic with drug addicts, those who have just overundulged at the bar or that are distracted throug the use of their cell phones or who have childred and animals loose in their vehicle. Who ever wrote this article needs to think again. Resepectfully Mike Mansel