Folks,
Mustfa is quite correct on co-insurance.
You MUST understand the details of the insurance, particularly if you are the pilot or hire an aircraft.
The "default" in many (most?) Australian aircraft insurance policies also allows to insurer to pursue the pilot (not being an employee) for recovery of its loss, having paid out the insured.
As I recall, aviation insurance is legally exempted from most insurance consumer protection standards required by law.
Tootle pip!!