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Thread: Insurance

  1. #1
    Join Date
    Sep 2006
    Location
    Reno
    Posts
    233

    Default Insurance

    Any chance the premium decreases for next year? One accident raises the cost, you would think no accidents would lower the cost? Does the risk barometer only work in one direction?

    Who's insurance covers damage to Furias when the straps let go during the recovery process? The million dollar question is assessing and separating the damage from both incidents...the landing and the crane mishap.

  2. #2
    Join Date
    Oct 2005
    Location
    Phoenix, AZ (KDVT)
    Posts
    153

    Default Re: Insurance

    Think "gas prices".

    It is possible the crane operator has some liability coverage.
    It is also possible they do not.

    How far did it drop from? It always freaks me out seeing planes on straps, Murphy's Law hunting for adventures...
    ****************
    Tom Johnson,
    Aviation Insurance Broker / Yak 50 Owner
    www.airpowerinsurance.com

  3. #3

    Default Re: Insurance

    Quote Originally Posted by Hans Oberev View Post
    Any chance the premium decreases for next year? One accident raises the cost, you would think no accidents would lower the cost? Does the risk barometer only work in one direction?


    A couple days more than a year ago, this air race had never had any non-pilot fatalities in it's 47 years. (with some obvious risk of this)

    Earlier this year the insurance company sees it as 1 big accident in 48 years.

    Now they see it as 1 in 49.

    So why should the premium go down?

  4. #4
    Join Date
    Oct 2008
    Location
    Nashville
    Posts
    193

    Default Re: Insurance

    ...and despite the revenue implications to the local economy, can we really expect the State of Nevada-Tourism to kick in $600k every year?

    At least for 2013 there is the assumption that the races will continue and RARA has a full year to raise the funds, whereas last year nobody really knew what the future held.

    I am thankful for a safe 2012 and look forward to being there in '13!

  5. #5
    Join Date
    Sep 2003
    Location
    TUS
    Posts
    665

    Default Re: Insurance

    I heard somewhere that the "TravelNevada.com" deal was a one-time thing. Casino sponsorship (as major sponsors) has dwindled over the years with their justification being "they'll come say with us regardless". That being said, RARA will need some major contributors regardless of this year's turnout.
    Sky Critter

  6. #6
    Join Date
    Sep 2006
    Location
    Reno
    Posts
    233

    Default Re: Insurance

    Now they see it as 1 in 49.
    Good point! :-(

  7. #7
    Join Date
    Oct 2005
    Location
    Phoenix, AZ (KDVT)
    Posts
    153

    Default Re: Insurance

    As mentioned many times by the announcer, 2013 is the 50th anniversary of Reno-NCAR, and Breitling's 50th also ...
    ****************
    Tom Johnson,
    Aviation Insurance Broker / Yak 50 Owner
    www.airpowerinsurance.com

  8. #8
    Join Date
    Sep 2004
    Location
    San Francisco Bay Area.
    Posts
    870

    Default Re: Insurance

    Pure speculation here. If the Crane Operator was responsible for the rigging of the straps and lifting the plane and was being paid for it, I assume the Crane Operator may be responsible and is insured with a deductible?

    If the Crane Operator was donating his time, or if the Crane Operator was operating at their risk due to the nature of the lift, or if the Crew of Furias did the rigging of the straps and told the Crane Operator that they were assuming all responsibility for any damages, then the Crew of Furias is responsible.

    Does anyone have video of the lifting accident?
    Last edited by SkyvanDelta; 09-17-2012 at 10:02 PM.

  9. #9
    Join Date
    Sep 2003
    Location
    Whittier CA, Los Angeles USA
    Posts
    502

    Default Re: Insurance

    We went over and had a look at Furias Fri night. It's some serious damage to that wing. I know the owner is not happy about what happened, he's spent a fortune and let's hope he doesnt write it off and rebuilds it. By the way, why was the N number taped over???
    Last edited by John H; 09-17-2012 at 10:26 PM.

  10. #10

    Default Re: Insurance

    Quote Originally Posted by tjyak50 View Post
    As mentioned many times by the announcer, 2013 is the 50th anniversary of Reno-NCAR, and Breitling's 50th also ...
    Uh..., what? Breitling has been around since 1884.

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