Whirls ..i forgive you as insurance is obviously not your forte
Really?
That's good of you
Whilst the individual Lloyds underwriter accepted unlimited personal liability (because they underwrote more policies than they could afford), the liability of any one individual policy was limited/quantifiable.
So then Nigel, in your grand scheme of say 50 helicopters and 20 owner/operators, how is this "policy" to be designed? What about the operator with a 109 compared to those with robbies? What is the percentage of payout for each member of the scheme should the more expensive aircraft go tits up? Who decides? Does the "scheme" pay no matter whose fault? What events are covered and what isn't? If self-insuring is such a good idea, why don't more people do it?
If you lose one of 50 machines which are all self-insured through your syndicate, then the syndicate loses the cost of a machine and the individual member loses 2% of the value of the aircraft, not 2% of the premium.
If your scheme is going to work another way, then I think you need to explain it a bit more clearly.
Cheers
Whirls