Originally Posted by
Mike Cross
Not sure I follow your logic. Shirley it's not your own circumstances but those of the people you are contemplating slaughtering that determine the amount of cover you require?
While there is admirable concern for others in your logic, no one insures for the maximum damage they might do to third parties. Some people choose the very selfish, ' I'll be dead and they can sort themselves so I don't need any insurance' strategy. Some look and say, 'I have a £100m estate, if anything happens that involves me at all, 'I will be the deep pockets so I need a lot of insurance'
But most people (who think about it at all) will have a logic something like 'what is the probability of a loss at x level and how much will it cost to insure against it, and what is the consequence to me and my loved ones of loosing everything if I don't insure to this level.
The end result should be, a reasonably high level of insurance for third party liability to cover the overwhelming majority of feasible outcomes. Pretty much everyone flying accepts that if through their negligence they take down a $400m American Airlines 747 with $5bn in personal injury claims, they and their estate are going to be wiped out, but also that the lawsuit will include ATC, American, Boeing, etc. in order to supplement the very shallow pockets of any normal individual.
What should be of concern to pilots is flying with 100k in passenger liability sub limits, which is in adequate to cover even the most basic and high probability liability.