David, As to your last suggestion, forgoing insurance, I suggest that unless you are the owner of a very large law firm with many legal resources at your disposal, it would not be a very good idea. :-) However, your comments about insurance are valid. It seems to me that Blue Cross was originally founded by medical people to make medical costs affordable to more people. As a result, each of the Blue Cross organizations seems to be set up as a not for profit organization. That being the case, I am aware that many, if not most of these organizations are very "profit minded." Why? Because the executives of the organization are awarded bonuses based on profit (or cost reduction) goals. In the quest to achieve "better" organizations, financial numbers seem to be the easiest goals to set, monitor, and reach. Thus, the original intent of the organization has lost its focus and the members (customers) are abused. And, in many respects, the profit motive becomes a large component of steadily increasing system costs. The balance against this is the rise in income. However, this does not always balance out. Consider fixed incomes of retirees and minimum wage workers. You can see this in many parts of our economy (health care, government services, insurance, etc,) and I doubt that there is a lot that can be done about it. My last post on this topic. John Roach N 2427H
David Winters wrote: > > A wild card view, I admit, but, as I recall the purpose of insurance, > it exists to allow a group to, as a whole, share the risks of an > activity in which the members are individually engaged. A risk that no > individual member of the group can absorb. > > It was NOT conceived as a profit making proposition. Just a bunch of > like-minded folks taking care of each other as economically as possible. > > Now, it is often just big business, so, profit trumps protection and > risk sharing…But not always. > > For example, my auto insurance company is owned by the members. Our > rates are low, and any profit over a given amount is returned to us as > dividends. > > Seems to be that is the way it SHOULD be. Is there a similar aviation > group insurance outfit that folks like? > > Have any of you ex-military officer types checked out USAA for plane > insurance? > > Has anybody simply opted to forego commercial insurance and fly so as > to avoid needing it? > > Opinions? > > Dave W > > -----Original Message----- > *From:* [email protected] > [mailto:[EMAIL PROTECTED] *On Behalf Of *earl johnson > *Sent:* Saturday, February 02, 2008 10:00 PM > *To:* Ercoupe-tech Group > *Subject:* Re: [ercoupe-tech] Re: INSURANCE Liabilty > > > > I would be very careful with the Liability > ins, a lawyer will knock on your door asking > you to disclose your personal asserts if your > under insured. i personally have 1 million dollar > liability with aircraft that's what they seem to > want to sell you, then i have a 2 million dollar > umbrella so ins co has a reason to act in my > defense keeping attorneys off my front steps. > Earl J > > --- [EMAIL PROTECTED] <mailto:WDELROSSI%40aol.com> wrote: > > > > > In a message dated 2/2/2008 8:37:37 PM Eastern > > Standard Time, > > [EMAIL PROTECTED] <mailto:mbpowell%40yahoo.com> writes: > > > > That was enough to motivate me to raise my auto > > liability to > > $1,000,000 +. Mostly thru an umbrella policy. 100K > > doesn't buy much > > in the way of health care or airplane repair. > > > > Mike, > > > > Yup. I did the same thing when my teenage son > > started driving. A $1,000,000 > > umbrella policy isn't very expensive either. $200 - > > $300 per year, if I > > recall. Too bad it doesn't cover anything to do > > with the airplane. > > > > > > Best Regards, > > > > Wayne DelRossi > > Alon N5618F > > Hours logged since restoration: 362.0 > > > > "Nobody has ever scientifically proven that life is > > supposed to be serious." > > > > > > > > > > **************Biggest Grammy Award surprises of all > > time on AOL Music. > > > (http://music.aol.com/grammys/pictures/never-won-a-grammy?NCID=aolcmp003000000025 > > <http://music.aol.com/grammys/pictures/never-won-a-grammy?NCID=aolcmp003000000025> > > 48) > > > > Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/ercoupe-tech/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/ercoupe-tech/join (Yahoo! ID required) <*> To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
