I had cause to discuss this with an underwriter in the sector a year or so ago.
It used to be the case but these days it isn't. So its become an urban myth; one I used to believe in.
Insurance companies are far far more interested in aircraft type, area of operation, specific airports and - by a huge margin - your Flight Data Monitoring system and its PROVEN effectiveness.
The couple of guys involved in running a good FDM program are quite literally shaving millions of pounds of insurance costs. Figure about half a percent of the fleet value saving between a good airline and a bad airline (insurance wise). The bulk of which being the FDM system. Big numbers.
Low time 'cadets' are only low time for 9 months. Then they've got >1000hrs mostly on Jets. The computer says they are not a significant risk. Gut instinct might say otherwise. But, personally, the most challenging, difficult, scary situation I have faced in the last 5 years was done so with a 250hr FO three days after being released to line flying. He was brilliant. Cool, calm and collected - personified. Could not have been more useful.
The system does work. Buffalo showed that hours in logbooks doesn't mean much..
But Red's right. Airline management don't look any further than next years bonus targets. Having enough Captains is right down the bottom of the list of worries. New FO's now pay for their type rating at twice the market price and triple the cost. They will then work where, when and if required for an hourly rate, smile
and be grateful.
It gives airline managers a semi.
WWW