Everything comes at a price. Underwriters have been short selling their product for the last 10 years with steady premium decreases warding off competition in hopes of maintaining market share. Eager for lower operating cost operators across the board snapped up below market rate insurance offerings with broad form coverages that literally protected every conceivable aviation risk. At the same time relaxed qualification criteria for insurance allowed many to run up the ladder quickly into very expensive high-performance aircraft in many cases with just a sign off and a sim session. After years of continuous underwriting red ink, the tide has turned with a vengeance, single pilot owner operators especially are making noises as they have seen their premium go from unrealistically low annual cost to intolerable premiums for basic cover with no logic in historical comparatives. Folks, Ray Charles (Stevie Wonder for you young folks) could see this crisis coming with sunglasses on.
For many higher faster further was the lure, many stepping out of general aviation piston high performance platforms to the newest sleek ultra-high performs SP Jets and turbo props. Unfortunately for many this transition has proved to be disastrous further translating into massive losses for the insurers who were betting on smooth safe transitions and operations, instead they paid for smoking holes and bent aluminum. The industry witness this same cycle back in the late 50’s, eager to learn to fly from the plentiful phenom of surplus training aircraft post WW2, and a booming economy folks yearning to fly began snapping up J3 Cubs and 7AC Aeronica Champs, Taylor Craft’s all capable aircraft but with limited VNEs, now comes the Gleam in everyone’s eye.. the new V tail Beech Bonanza !!…. sleek, high flying and fast 200MPH …It did not take long for the losses to start mounting with quick transitions finding wings shedding from steep spirals out of the clouds and ultimately impacting terra firma. Soon everyone would joke and say the two most dangerous things in the world were a rich teenage driver in a new corvette/Ford Mustang or a Dr. in a Bonanza…
These issues were no joking matter then and are certainly not now. It did not take long for the FAA to figure out the culprit was a pat on the back after a few hours of dual transition from a trainer to a high performance single retract that allowed 90Kts wonders to find themselves hurtling toward eternity in their new toys… fix, specified training and high performance training endorsements from qualified CFIs…the insurance industry stepped in and added a second tier of requirements in the form of minimum dual hours to transition into HP retracts before solo. In the latter case there is inconsistency between companies and no federal or state statutory requirement to even maintain insurance, so therein lies a chink in the armor.
Contemporary to this evolution of reaction to safety issues the FAA will at some point require type ratings in all high-performance aircraft. Over kill probably but it is coming. The insurance companies eager to stay out of a pool of red ink as well will implement additional sanctions in form of mandatory Sim training every 12 months, without compromise of in aircraft training, plus for those transitioning , scrutiny will be closely monitored instead of hours to transition to no changes or approvals during 12 month policy periods before recognizing Single Pilot ops in most types sought for insurability.
WE brought it on ourselves wanting to go faster , further and higher and now have to pay more than one pied piper for the experience of flight…seems like this is not a new reality, someone named Icarus met with the same complications and fate in his quest to fly as well, will we ever learn?
Why get burned? perhaps we should all slow down and smell the burnt JP4 and evolve into our higher faster further transitions instead of dying and taking loved ones with us in our newer faster flying machines…close your eyes relax and think about it.. does this apply to you in any way.
Lance Tōland