Life Cover & gyros...

[Learjet]

It appears that my life assurers (Liberty) and their underwriters have a rather subjective opinion on gyros. They have granted me life cover (with a loading) but refused disability cover.

This is the typical response I'm getting from my broker:

the underwriters are having an issue with the type of plane and the fact that you travel outside the borders of SA in it

I'm probably (no make that "definately") fighting an uphill battle here, but I have requested she ask the underwriters to respond with the following info:

Please could you advise me what 'the issue with the type of plane" is that the underwriters have? I'd like the details and specific information upon which they are basing their "issues" please. I would also be interested to know what their reasons are for having concerns about cross-border flights. The last time I checked the air was exactly the same...

I'll post their response... (if I get one)

[Vertical Tango]

After more than 30 years of flying, I am still not insured because I have not found any insurance company which is prepared to get off its back side and see what is a gyro, let alone an aeroplane. Their statistical work is based on media reports which is purely sensational.
I have come to the conclusion that the joy of flying ( SAFE FLYING ! ) beats the risk of an accident. I don't fly to have an accident and at any doubt stay on the ground.

[Low Level]

My brother in law is a broker in Cape Town. He went through a lot of effort in order to sort this issue with Discovery. I shamelessly gave him the record of accidents as posted by you, in order for him to have some info.They bluntly refused, because according to them, insurers lost a lot of money because of gyro claims the past two years.

I'm baffled.

[mikemat]

Hi Dave.

Your feedback on Liberty's attitude to life cover on gyros surprises me. I was with Discovery, and it is well known that they won't touch gyros with a barge pole. My broker then went on a bit of a mission and ended up with Liberty. It seems that they have at least done their homework, and have numerous classifications which carry different loading. To my surprise, the loading on gyros wasn't as high as some other light aircraft classifications, although I'm not sure of the pecking order.

At the end of the day, I am paying less for the same cover with my gyro loading with Liberty than I was paying without it when I was with Discovery! If you would like to put your guy in touch with my broker, Mike Brennan, Mike is on 08three six75 3six9seven.

Cheers

Mike