SkyWatch has unveiled a new liability-only insurance option tailored specifically for pilots aged 70 or older.
“Recognizing the challenges faced by pilots aged 70 and older in obtaining affordable, comprehensive insurance, this new offering allows them to continue flying with the necessary liability coverage,” company officials said.
They noted that the new insurance option was developed “in response to in-depth conversations between SkyWatch and the Aircraft Owners and Pilots Association (AOPA) regarding the unique challenges faced by senior pilots.”
“Together, we identified the importance of providing insurance solutions that allow experienced aviators to continue their passion while adhering to necessary insurance requirements,” company officials said.
Available through SkyWatch’s online platform, the policy provides flexible coverage options and instant quotes, company officials added.
“This offering is a game-changer for our senior members,” said Mark Baker, AOPA president and CEO. “We’re pleased to see SkyWatch addressing a critical need in the market, allowing our seasoned pilots to stay in the skies safely and affordably.”
For more information: Skywatch.ai
How about FAA getting NASA (or NTSB) to extend its database to include details on accidents & incidents involving pilots with pilot age recorded in a way that’s searchable on age etc.?
Perhaps another more general change would be for NASA to develop an understanding of the data that insurance companies use in determining their rates. Of course this would include more than what may be appropriate for their DB (e.g., medical history) but if the purpose of the DB includes supporting supporting new approaches to safety then why not extend th DB to provide additional potentially valuable information!
Anything will help, but perhaps the greatest help would be to reduce easily preventable mishaps such as gear up landings. Currently we have a preventable, unintentional gear up landing each week in the US. These average $100K for repairs on a single, and often total the light twin, being well over $150k, generally totaling the aircraft. The probable solution is a multi-layered approach. Sustems wise we need redundant gear down indications as a norm, gear warning systems that actually work, but most a change in training. In light twins and singles, the gear needs to be lowered first, always. The old, ineffective “GUMPS” check needs to go the way of the Dodo bird as it is counter productive. It is a “Before Landing” check, which always includes the gear and flaps in the proper position. The rest is specific to a particular airframe. And the gear needs to be verified down, no less than three times.
I would really like to see an in-depth investigative article by a qualified writer focusing on the justifications the insurance companies have for charging such high premiums for older pilots. The article should include analysis of actuarial tables used by the companies that detail how rates are set for pilots of differing ages but similar experience, currency, qualifications, and history.
Older pilots switching to liability-only coverage is not new. It is something that has been done for years and is increasing. Perhaps SkyWatch will do something new to make it more accessible or affordable, but it does not seem that revolutionary.
I’m already doing this. I’m 72 and switched to liability only on both my planes (Navion & RV-6) at last renewal. My hope was to be easier to insure/harder to deny as I continue to age. Two different agencies and underwriters but the rates were almost the same, ~$500 for $1M/100K. Of course it doesn’t make any sense to have 2 premiums when I can only fly one plane at a time but there’s no such thing as multi-plane discounts. Maybe AOPA & Skywatch formalizing this will give the underwriters an excuse to continue insuring us instead of bowing to age discrimination.
Nice but I wonder what the average (emphasis on AVERAGE) premium would be.
Skywatch must have some parameters (formulas) in place right now to provide us with
some hypothetical scenarios depending on total pilot hours logged time, age, the make/ model of airplane and medical requirements.