10540's post 1864 (or thereabouts)
I used to know a Virgin pilot who had a standard £250k cover against losing his Class 1.
raises an interesting anomaly.
Most pilots used to have Loss of Licence insurance – maybe some still do. This meant you would receive a payout if you lost your licence because of a medical problem etc.
However, completely unlike every other profession, it is impossible to obtain third party insurance as a pilot. In all other professions – doctor, vet, architect, lawyer – you cannot practice until you have this insurance.
Many years ago I tried to obtain it, even contacting Lloyds, but not only were there no offers, there was not the hint of interest in providing such cover – and this disaster clearly shows why.
The obvious solution in the profession of being a pilot was simply to always fly within the airline company's rules, and – just in case – belong to a good pilot's union who would be able to provide legal assistance if necessary.
I'm very glad to say that in my 40 years of flying (but 12 of them were in the Royal Navy which definitely doesn't have unions!), I never had the need to require any assistance from my union for any misdemeanour.