This a bit of a concern, my passenger liability cover is 125k, now if I was to kill, lets say, a young professional with a family in a flying accident, that amount of cover is not going to be nearly enough.
So where would you stand legally in the event of an accident, if you had fixed a placard in front of the righthand seat worded appropriately, but basically stating... if you fly in this aircraft you do so at your own risk, so therefore anyone flying would be deemed to have accepted those terms!
What is deemed negligent? For example, you suffer engine failure due to mechanical failure then in the ensuing forced landing run into power lines and kill your pax, would you in those circumstances be liable to a claim against you?