Jon Howard
Pre-Flight
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- Nov 16, 2020
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Jon H.
There are statistics that show accident rates increase as pilot age increases beyond a certain point. These studies are largely done on airline pilots so the data stops at age 65, but it clearly shows a correlation between age and accident frequency. Insurance companies have their own internal data that supports the same idea, but their sample sizes are often very small so it's difficult to determine exactly how much rate is needed as pilots age. Those companies that under-price older pilots will withdraw from the market or raise their rates eventually.
As long as insurance companies can get enough rate there will be markets for older pilots - but when older pilots refuse (or are simply unable) to pay the premiums necessary to pay the losses the insurance companies will simply withdraw from the market.
As long as insurance companies can get enough rate there will be markets for older pilots - but when older pilots refuse (or are simply unable) to pay the premiums necessary to pay the losses the insurance companies will simply withdraw from the market.