Insurance and BasicMed

Amazing. Insurance company supporting a decrease in safety. Won't be getting any of my business.
 
Just got the same E mail,not sure I truly believe ,that they will not increase their rates.
 
KA550 said:
Amazing. Insurance company supporting a decrease in safety. Won't be getting any of my business.
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It's the law. Doesn't have to make sense

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KA550 said:
Amazing. Insurance company supporting a decrease in safety. Won't be getting any of my business.
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It looks like you'll be going without insurance:

"The aviation insurance professionals at EAA Insurance Solutions administered by Falcon Insurance Agency, Inc., contacted all of the insurance companies who underwrite aircraft insurance through the independent insurance agency and brokerage community and we found 100 percent of these insurance companies support the new FAA medical reform and they also did not anticipate any change in their underwriting approach to pilots flying owned or non-owned aircraft that will no longer require an FAA medical."
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https://www.eaa.org/en/eaa/eaa-news...2cXVUWm95eW0ycHN2SVwvUFBXTEh0bFdOQ2tkTFIifQ==
 
Palmpilot said:
It looks like you'll be going without insurance:

"The aviation insurance professionals at EAA Insurance Solutions administered by Falcon Insurance Agency, Inc., contacted all of the insurance companies who underwrite aircraft insurance through the independent insurance agency and brokerage community and we found 100 percent of these insurance companies support the new FAA medical reform and they also did not anticipate any change in their underwriting approach to pilots flying owned or non-owned aircraft that will no longer require an FAA medical."
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https://www.eaa.org/en/eaa/eaa-news-and-aviation-news/news/01-12-2017-eaa-insurance-solutions-aircraft-insurance-and-medical-reform-a-ok?mkt_tok=eyJpIjoiT1dOa01HTXdZamN6WTJObSIsInQiOiJJaysxYWlpV2FYeGV3NDA2eTlQZk9NR2ZQaVlDV3VRdTlUSFcybTNnTXNSdWJoMGMxYWpTZ3YzRTAxaStEQ2YrWFRVMjVxV3pFYTAzRnFYZ2RCUDVvdE1yS3B3SWxqcDRWR092cXVUWm95eW0ycHN2SVwvUFBXTEh0bFdOQ2tkTFIifQ==
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Hey if he wants to fly without insurance and imagines that's safer...
 
Insurance is just math. They accept the very low risk of accidents due to incapacitation and in return get more qualified experienced pilots back into the pool buying more insurance it increases their revenues and reduces their risk.
 
Insurance is a shared risk pool. If almost all pilots/owners support the FAA basic med, it follows that they should bear their share of the risk (or increase in risk). You can go without insurance and bear all the risk yourself, or you can be part of the shared-risk pool. You are insuring against "unknown" risk.

Health insurance is a different animal - certain "risks" that are required to be covered are certainties (routine exams, pre-existing conditions, etc.)
 
What is the "RISK" in basic med??

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Under BasicMed, airman are less likely to avoid treatment of medical conditions out of fear of being grounded under the medical certification process. The FAA policy office for BasicMed isn't expecting any decrease in safety.
 
Yeah right. Just going to let more that should not be in the airspace there. That will do wonders for the safety of operations. NOT
 
The Avemco email I received today also said that some policyholders (presumably very old or otherwise at higher risk of incapacitation) will be required, by Avemco, to get the BasicMed physical exam more frequently than is required by the FAA.

To me that sounds like a reasonable way to reduce the insurer's risk and thereby keep premiums from soaring for those at less risk.
 
KA550 said:
Yeah right. Just going to let more that should not be in the airspace there. That will do wonders for the safety of operations. NOT
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How?? They still have to do a comprehensive, which is much more than what they did for my 3rd class medical. If I develop something that should ground me, it's the decision of the pilot to ground himself, just like today. It's the integrity that you are questioning. I have 3rd class medical, there is nothing stopping me from flying on a day that I really shudnt due to a cold or migraine or some other stuff. If I do and crash in the process, the medical process is not to be blamed for that

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Silly nonsense - accidents aren't happening due to medical incapacitation anyway; rarer than hen's teeth. The III Class medical was about as useful as a bicycle to a fish. . .
 
I sat and listened to a presentation on BasicMed by my Region Flight Surgeon today. Before he was finished I had already decided to submit for renewal of my 3rd class SI rather than commit to BasicMed. At least for this year. After things settle down BasicMed may be the cat's meow. As of today? It doesn't even exist.

One size never fits all.
 
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